Law of variable proportion is a short run concept.do you agree
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Yes , law of variable proportions is applicable in the short run only. Firms can increase production in the short run only by increasing the quantity of variable factor and not fixed factor. Due to this, the proportion between fixed and variable factor keeps on changing in the short run and hence the law is called as the law of variable proportions
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Answer:law of variable proportion occupies an important place in economic theory. This law examines the production function with one factor variable, keeping the quantities of other factors fixed. In other words, it refers to the input - output relation when output is increased by varying the quantity of one input.
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