Economy, asked by ipshita12, 5 months ago

What are the different phases in the Law of Variable proportion in terms of TP and
MP approach. Give reason behind each phase. Use diagram.

Answers

Answered by singhgajju712
2

Answer:

The Law also states that if we keep all other factors constant and increase the units of a variable factor, then the marginal physical product initially increases, then decreases, and finally becomes negative. Therefore, it has three stages: I – MPP increasing. II – MPP decreasing but remaining positive.

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