Question

law of variable proportions is also known as​

Answer 1

Answer:

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Law of Variable Proportions occupies an important place in economic theory. This law is also known as Law of Proportionality. Keeping other factors fixed, the law explains the production function with one factor variable. ... Land is a fixed factor whereas labour is a variable factor

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Answer 2

Answer:

The Law of Variable Proportion is also known as the Law of Proportionality. The Law of Variable Proportion concerns itself with how the output of a system alters with an increase in the number of units of a production variable, thus expressing the features of a changing factor-ratio proportion of the concerned output.

Explanation:

Law of Proportions states that as the quantity of one factor is increased, keeping the other factors fixed, the marginal product of that factor will eventually decline.