Similarities between law of diminishing returns and law of variable pr

1.	Similarities between law of diminishing returns and law of variable proportion
Answer» Answer: Both refer to the same concept. Law of variable proportions is the new name for the “Law of DIMINISHING product/returns” of classical economics. It HOLDS that if a firm keeps INCREASING an input keeping all other inputs and TECHNOLOGY constant, corresponding INCREASE in output will decrease eventually .

Similarities between law of diminishing returns and law of variable proportion

Answer»

Answer:

Both refer to the same concept. Law of variable proportions is the new name for the “Law of DIMINISHING product/returns” of classical economics. It HOLDS that if a firm keeps INCREASING an input keeping all other inputs and TECHNOLOGY constant, corresponding INCREASE in output will decrease eventually .

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Similarities between law of diminishing returns and law of variable proportion

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