Use app×
Join Bloom Tuition
One on One Online Tuition
JEE MAIN 2025 Foundation Course
NEET 2025 Foundation Course
CLASS 12 FOUNDATION COURSE
CLASS 10 FOUNDATION COURSE
CLASS 9 FOUNDATION COURSE
CLASS 8 FOUNDATION COURSE
0 votes
366 views
in Production Function by (56.2k points)

Why are the law of returns variable proportions and law of diminishing marginal production considered the same?

1 Answer

+1 vote
by (65.1k points)
selected by
 
Best answer

Today, economists have started considering the law of returns of variable proportions and law of diminishing marginal production as one. According to the law of returns of variable proportions, with the use of fixed means along with the variable menas, the ratio of means get changed and its effect is visible on the production. This effect can be seen on the increasing returns, equal returns and diminishing returns, and the condition of increasing returns is in the initial stage only. Eventually, it means diminishing returns only. Therefore, both these laws are considered to be the same.

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...