Economy, asked by uttampatil3529, 1 month ago

The importance of Law of Variable Proportions

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Answered by Anonymous

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Answered by Anonymous

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Law of variable proportions 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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