Answer to Question #235438 in Economics for amanuel

Question #235438

What is the Law of Variable Proportion?


1
Expert's answer
2021-09-10T12:21:25-0400

The Law of Variable Proportion states that as the quantity of a factor is increased while keeping other factors constant, the Total Product (TP) first rises at an incremental rate, then at a decremental rate and lastly the total production begins to fall.


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