Question

hlw mates❣❣.....explain law of varialble proportion...........❓❓❓❓❓​

Answer 1

ANSWER

in the short period

SOLUTION

It is only possible for the law of variable proportions to operate under specific conditions. 

1. The state of technology is given and remains unchanged

2. It is assumed that some inputs are fixed while others are varied. As it is only then that the factor proportions can be changed. 

3. It is assumed that technology is such that it is possible to change the factor proportions. The law will not apply in situations where the factors of production must be used in fixed proportions. 

4. It is assumed that all the units of the variable factor are homogeneous and are equally efficient

Answer 2

It refers to the effect of the changing factor-ratio on the output.

The law states that keeping other factors constant, when you increase the variable factor, then the total product initially increases at an increases rate, then increases at a diminishing rate, and eventually starts declining.

• We can say,it explains how the output changes when one factor of production is made variable keeping other factors constant.