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Question
Law of variable proportion is related to ______.
Options
short-run
long-run
very long-run
both short-run and long-run
MCQ
Fill in the Blanks
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Solution
Law of variable proportion is related to short-run.
Explanation:
The law of variable proportions examines how output changes when a variable factor increases while at least one other factor remains fixed. In the long run, all factors are variable, and production is analysed through returns to scale.
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