Law of variable proportion is valid when ________________.a.Only one input is fixed and all other inputs are kept variableb.All factors are kept constantc.All inputs are varied in the same proportiond.Only one input is variable and all other inputs are kept fixed
Question
Law of variable proportion is valid when ________________.a.Only one input is fixed and all other inputs are kept variableb.All factors are kept constantc.All inputs are varied in the same proportiond.Only one input is variable and all other inputs are kept fixed
Solution
The Law of Variable Proportions is valid when "Only one input is variable and all other inputs are kept fixed". This law states that if we increase one input (like labor or capital) while keeping other inputs constant, the total output will at first increase, but after a certain point, it will start to decrease. This is due to the fact that the increased input can only be effectively utilized to a certain extent when other inputs are kept constant.
Similar Questions
Which one of the following best defines the Law of Variable Proportions?Output decreases as all inputs increase.Output increases as one input is increased, holding all other inputs constant.Output increases as all inputs increase.Output decreases as one input is increased, holding all other inputs constant
Law of constant proportions is given by whom?
state and explain the law of constant proportion
Which of the following is a true statement about the Law of Variable Proportions?It assumes that all units of the variable input are heterogeneous.It is applicable only in the long run.It is applicable only to the agriculture sector.It operates in the short run when at least one factor of production is fixed
What is the primary reason for the operation of the Law of Variable Proportions? The presence of fixed and variable inputs in the short run. The presence of only variable inputs in the long run. The absence of fixed inputs in the short run. The absence of variable inputs in the long run.
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