Economy, asked by aleenamathews27, 4 months ago

Explain the law of variable proportion with the diagram

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Answered by yabhay2233

Answer:

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. ... For instance, there are two factors of production viz., land and labour.

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