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What are the different phases in the Law of Variable Proportions in terms of Total Product ? Give reason behind each phase. Use diagram.

Answer» <html><body><p></p>Solution :The Phases are : <br/> Phase I : TP rises at increasing rate, i.e. upto A. <br/> Phase II : TP rises at decreasing rate, i.e. between A and B. <br/> Phase III : TP falls i.e. after B. <br/> Reasons : <br/> Phase I : Initially variable is too small as compared to the fixed input, As production starts, there is efficient use of the fixed input, <a href="https://interviewquestions.tuteehub.com/tag/leading-1070220" style="font-weight:bold;" target="_blank" title="Click to know more about LEADING">LEADING</a> to rise in productivity of the variable input on <a href="https://interviewquestions.tuteehub.com/tag/account-25640" style="font-weight:bold;" target="_blank" title="Click to know more about ACCOUNT">ACCOUNT</a> of <a href="https://interviewquestions.tuteehub.com/tag/division-957437" style="font-weight:bold;" target="_blank" title="Click to know more about DIVISION">DIVISION</a> of labour. As a result, TP rises at increasing rate. <br/> Phase II : After a level of output, pressure on fixed input leads to fall in productivity of the variable input. As a result, TP continues to rise but at a decreasing rate. <br/> Phase III : The <a href="https://interviewquestions.tuteehub.com/tag/amount-374803" style="font-weight:bold;" target="_blank" title="Click to know more about AMOUNT">AMOUNT</a> of variable input becomes too large in comparison to the fixed input causing decline in TP. <br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/SG_MIC_ECO_C05_S01_017_S01.png" width="80%"/></body></html>


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