The law of variable proportion is basically a study of production functions. The factors used include fixed and variable factors.
Explain the Law of Variable Propotion
Causes of law of variable proportions
it elasticity
Under Law of variable proportion: only one variable input varies all other variable kept constant. Under Law of Return to Scale: All the variable inputs varies except the enterprise. Law of variable proportion is for short period; law of return to scale is for long period. Law of variable proportion shows the relationship if one variable input increase (eg: Labour) by keeping all other variable constant; total product and marginal product increase upto a certain point after that it will increase at a diminishing rate. it shows in three stage first increase then constant and then decrease. Law of return to scale shows the relationship between inputs and output at three different stages: 1. output increase more than inputs, 2. output and input are constant, 3. output is less than proportionate input.
Vrry smpl.all d assumption r limitation.
Explain the Law of Variable Propotion
Causes of law of variable proportions
it elasticity
1.law of conservation of mass 2. Law of definete proportion 3. Law of Multiple proportion.
Direct proportion means as the independent variable increases, the dependent variable increases, and vice versa. Inverse propostion means just the opposite. As the independent variable increses, the dependent variable decreases, and vice versa.
Under Law of variable proportion: only one variable input varies all other variable kept constant. Under Law of Return to Scale: All the variable inputs varies except the enterprise. Law of variable proportion is for short period; law of return to scale is for long period. Law of variable proportion shows the relationship if one variable input increase (eg: Labour) by keeping all other variable constant; total product and marginal product increase upto a certain point after that it will increase at a diminishing rate. it shows in three stage first increase then constant and then decrease. Law of return to scale shows the relationship between inputs and output at three different stages: 1. output increase more than inputs, 2. output and input are constant, 3. output is less than proportionate input.
No. It also applies to mathematics in general.
Vrry smpl.all d assumption r limitation.
In a nonlinear graph showing the relationship between two variables where one is related o the second power of he other. This will no be in a straight line, but will curve upward and it is known as direct square proportion.
No
operational definition of a manipulated variable
direct proportion