Question

Explain the law of variable proportion with a suitable diagram.

Answer 1

Law of Variable Proportions: Assumptions, Explanation , Stages , Causes of Applicability and Applicability of the Law of Variable Proportions!

Law of Variable Proportions occupies an important place in economic theory. This law is also known as Law of Proportionality.

Keeping other factors fixed, the law explains the production function with one factor variable. In the short run when output of a commodity is sought to be increased, the law of variable proportions comes into operation.