Question

prepare a notes based about production function based on lLaw of variable proportion​

Answer 1

Answer:

The Law of Variable Proportions or Returns to a Factor plays an important role in the study of the Theory of Production. In this article, we will look at the meaning, explanation, stages, significance, and reasons behind the operation of the Law of Variable Proportions.

Answer 2

Explanation:

This law examines the production function with on factor variable, keeping the other factors quantities fixed. The law explains the short-run production. When the quantity of one input is varied, keeping other inputs constant, the proportion between factor changes.