What are the assumptions of law of variable proportions?
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We can write law of variable proportions in many ways as
Law of variable proportions refers to study the output behaviour when one factor is variable and all other factors are fixed...
Or
Law of variable proportion is also known as Returns to a factors which states the productivity of outputs using one variable factor and keeping other factors remain fixed...
Or
According to Law of variable proportion , when more and more unit of variable factors is used (or applied ) with fixed factor , Marginal product of the factor initially rise , after certain level of output it starts declining.
Assumptions under the law of variable proportions
============================================
1 => Production fubction should be short run type
2=> One factor shoulb be variable and all other factors remain fixed
3=> Technology of production should not be changed
4=> Ratios between the factors should be variable
Law of variable proportions refers to study the output behaviour when one factor is variable and all other factors are fixed...
Or
Law of variable proportion is also known as Returns to a factors which states the productivity of outputs using one variable factor and keeping other factors remain fixed...
Or
According to Law of variable proportion , when more and more unit of variable factors is used (or applied ) with fixed factor , Marginal product of the factor initially rise , after certain level of output it starts declining.
Assumptions under the law of variable proportions
============================================
1 => Production fubction should be short run type
2=> One factor shoulb be variable and all other factors remain fixed
3=> Technology of production should not be changed
4=> Ratios between the factors should be variable
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