how can law of variable proportion be the reason for shape of tvc curve
Answers
Answer:
law of variable proportion states that if the inputs of one resource is increased by equal increment per unit of time while the inputs of other resources are held constant, total output will increase, but beyond some point the resulting output increases will become smaller and smaller.”
Reasons for Law of Variable Proportions:
- Better Utilization of the Fixed Factor: In the first phase, the supply of the fixed factor (say, land) is too large, whereas variable factors are too few. ...
- Increased Efficiency of Variable Factor: ...
- Indivisibility of Fixed Factor
Explanation:
Answer:
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Answer:−
law of variable proportion states that if the inputs of one resource is increased by equal increment per unit of time while the inputs of other resources are held constant, total output will increase, but beyond some point the resulting output increases will become smaller and smaller.”
Reasons for Law of Variable Proportions:
Better Utilization of the Fixed Factor: In the first phase, the supply of the fixed factor (say, land) is too large, whereas variable factors are too few. ...
Increased Efficiency of Variable Factor: ...
Indivisibility of Fixed Factor