Explain the Law of Variable Proportions with the help of total and marginal physical product curves. 2 Explain the likely behaviour of Total Product and Mardinal Product when for increasing production only
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The law of variable proportions is used to explain the relationship between Total Product and Marginal Product. ... When the Marginal Product (MP) increases, the Total Product is also increasing at an increasing rate. This gives the Total product curve a convex shape in the beginning as variable factor inputs increase
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