Question

giving reason explain the law of variable proportion​

Answer 1

hi

i) Phase I-Increasing Returns: This stage is in between O to N on TP curve. In this stage, MP tends to rise till OQ units of labour are used with the constant application of fixed factor. When MP is rising, TP tends to rise at an increasing rate. This occurs till point N on TP curve and point M on MP curve. This is a situation of increasing returns to a factor.

(ii) Phase ll-Diminishing Returns: This stage is between N to R on TP curve. Beyond OQ units of labour, MP tends to decline and TP increases only at diminishing rate. This occurs between M and S on MP curve and between N and R on TP curve. This is a situation of diminishing return to a factor.

(iii) Phase lll-Negative Return: This stage is beyond R on TP curve. Beyond OS units of labour, MP becomes negative. Now, TP starts declining. This is a situation of negative returns to a factor.

Answer 2

This law is also known as law of proportionality

In this law one is a fixed and other is a variable quantity

the law explains the production function with one factor variable in other words when the output of a commodity is so to be increase the law of variable proportion come into operation

for example

suppose that a land owner have five hectares of land and 25 labours are there to do work so the ratio will be one is 25 but if the landowner want more labours than he can increase the labour and the ratio will be 2 ratio 5 , the land is Five hectare which do not change and it is the constant quantity

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