Question

state the law of variable proportions????​

Answer 1

law of variable proportions state that as more and more of the variable factor is used along with the fixed factor "marginal product of the variable factor must ultimately fall " even when it may initially Rise and subsequently established

Answer 2

IN SHORT RUN, SOME FACTORS CAN BE FIXED WHILE SOME CANNOT BE FIXED. THE FORMER ARE CALLED VARIABLE FACTORS & THE LATTER ARE CALLED FIXED FACTORS.

OUTPUT CAN BE CHANGED IN THE SHORT RUN BY MAKING CHANGES IN THE VARIABLE FACTORS. WHEN THE VARIABLE FACTORS ARE COMBINED WITH THE FIXED FACTORS. THE PROPORTION BETWEEN THEM UNDERGOES SOME CHANGES THAT IS FOLLOWED BY LAW OF VARIABLE PROPORTIONS.

IT IS CALLED CALLED LAW OF DIMINISHING RETURNS. NAMED AFTER 19TH CENTURY ECONOMISTS: DAVID RICARDO, ALFRED MARSHALL