The law of variable proportions economics discussion
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Heya....
Law of variable proportion....
It states that when more and more units of variable factors are must combined with fixed factors then the marginal output rises suddenly but gradually it starts to decline and be zero or negative...
It is short run concept because of fixity of fixed factors...
Law of variable proportion....
It states that when more and more units of variable factors are must combined with fixed factors then the marginal output rises suddenly but gradually it starts to decline and be zero or negative...
It is short run concept because of fixity of fixed factors...
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