Explain the law of variable proportion . Use diagram.

1.	Explain the law of variable proportion . Use diagram.
Answer» The law of variable proportions states that as the quantity of one factor is increased, keeping the other factors fixed, the marginal product of that factor will eventually decline.<br>Law of Variable proportion states that as more and more units of the variable factor is combined with the fixed factor marginal product may initially rise but eventually a situation must come marginal product declines. marginal product may ultimately become zero or negative<br>The law says that marginal product of factor input intially rise\'s with it employment level but after reaching a certain level of employment it starts falling. The reason behind it is that as one factor is constant and other are changed the factor proportion become more and more suitable for production and MP(marginal price) rise\'s but after an certian level of employment the production process over used for the fixed factor with the variable factor.Assume Option:-¡) One factor input is variable. ¡¡) All other factor are fixed.¡¡¡) It is short period production.iv) Factor proportion is variable.v) Unit of vaeiable factor are homogenous and equally efficience.vi) Teching of production does not changes.<br>Law of variable proportion states that the marginal product firstly increases then decreases and finally become zero or negative

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