Question

What does the law of variable proportions show? Why it does not apply in long run?​

Answer 1

Answer:

The Law of Variable Proportions or Returns to a Factor plays an important role in the study of the Theory of Production. In this article, we will look at the meaning, explanation, stages, significance, and reasons behind the operation of the Law of Variable Proportions.

Answer 2

Answer:

Explanation: LAW OF VARIABLE PROPORTIONS shows that as we increase quantity of only one input keeping other inputs fixed,

Total Product [TP] initially increases at an increasing rate, then at a decreasing rate and finally at a negative rate.