Question

Explain law of variable proportion in detail.
for 6 marks question.​

Answer 1

Answer:

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

Explanation:

The law of variable proportion is also defined as - “An increase in some inputs relative to other fixed inputs will be in a given state of technology cause output to increase, but after a point, the extra output resulting from the same additions of extra inputs will become less and less”.

Answer 2

Answer:

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