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What key assumptions underlie the law of variable proportions in microeconomics?
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What cause the application of law of variable proportion?
Causes of law of variable proportions
What is the difference between variable proportions and returns to scale?
what is relationship between change in input and output. In the return's to scale (long term concept) all the factor are variable but in the variable proportions are some factor variable and some factors are fixed.
Why is average cost and average variable cost are both you shaped?
the average variable cost curve and average cost curve are u- shaped because of the law of variable proportions.
Why Total variable cost usually inverse S shape?
the total varible cost is inverted S because The varible cost increases t n decreasing rte in the starting stages then increases t n increasing rte due to law of variable proportions
Importance of the law of variable proportions?
Sometimes referred to as variable factor proportions, law of diminishing returns states that as equal quantities of one variable factor are increased, while other factor inputs remain constant, ceteris paribus, a point is reached beyond which the addition of one more unit of the variable factor will result in a diminishing rate of return and the marginal physical product will fall.
A chemical combination of two or more substance in variable proportions is called?
A nonchemical combination of two or more substances in variable proportions is a mixture.
What cause the application of law of variable proportion?
Causes of law of variable proportions
What is the difference between variable proportions and returns to scale?
what is relationship between change in input and output. In the return's to scale (long term concept) all the factor are variable but in the variable proportions are some factor variable and some factors are fixed.
What are values in cells that can be changed to determine new values for formulas?
Assumptions or variable.
Why does the law of variable proportions operate?
conduction, convection, and radiation
Why is average cost and average variable cost are both you shaped?
the average variable cost curve and average cost curve are u- shaped because of the law of variable proportions.
The difference between an empirical distribution and a theoretical distribution?
Empirical Distribution: based on measurements that are actually taken on a variable. Theoretical Distribution: not constructed on measurements but rather by making assumptions and representing these assumptions mathematically.
How are proportions related to direct variations?
If two variable, X and Y are in direct variation, then the proportion of X/Y or Y/X has a constant value.
How do you work out proportions?
to solve a proportion you have to set up a problem Ike this...24/65 = 12/x you fill in the missing variable with a letter.most common is x.the missing variable is the variable you are trying to solve for.now you do 24x/24 = 780/24 you do 24x and put 24 under it.now do 65 times 12which is 780.so you put 780 as the other fraction.now do 780 divided by 24 which is 325.so 325 is325 is the answer.That's how you solve proportions.
If bauxite was found in palmdale it would be an example of what resource?
bauxite consists of hydrated alumina with variable proportions of iron oxides. it would be an example of the resource aluminum.
Can you convert tons of steel into M3?
You can, but only if you know the density (or specific gravity) of the steel. Since steel is an alloy, its density is variable - depending on the other substances and their proportions in the alloy.
Why Total variable cost usually inverse S shape?
the total varible cost is inverted S because The varible cost increases t n decreasing rte in the starting stages then increases t n increasing rte due to law of variable proportions
