What are the three phases of law of variable proportions?

1.	What are the three phases of law of variable proportions?
Answer» ANSWER :(i)Increasing returns to a factor. TP increases at an increasing RATE and MP increases (ii) DIMINISHING returns to a factor. TP increases at a diminishing rate and MP falls, but REMAINS positive. Then MP becomes zero when TP is maximum and CONSTANT. (iii) Negative returns to a factor. TP falls and MP becomes negative.

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