Question

Define law of variable proportions.

Answer 1

Explanation:

The law of variable proportion states that as the quantity of one factor is increased, keeping the other factors fixed, the marginal product of that factor will eventually decline.

Answer 2

Answer:

The law of variable proportion states that if the inputs of one resource is increased by equal increment per unit of time while the inputs of other resources are held constant, total output will increase, but beyond some point the resulting output increases will become smaller and smaller.