state any two assumption of the law of variable proportion
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Following are the assumption of the law of variable proportion:
Explanation:
- It is assumed that the techniques used for production should be constant throughout production.
- It is also assumed that some inputs should also be kept constant.
- It is for the short-term because, in the long turn, inputs cannot be kept constant.
- Different factors shouldn't be used in the fixed proportions.
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Explain law of variable proportion ?
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