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  • ICAR and TNAU E-Course Summarized

    Summarized Notes
  • The law of variable proportion is generally referred to as the

    Question: The law of variable proportion is generally referred to as the

    Options:

    Law of absolute advantage
    Law of equimarginal returns
    Law of diminishing returns
    Law of comparative advantage

    ✅ Explanation: The law of variable proportions, also known as the law of diminishing returns, states that as you increase the quantity of one input while keeping other inputs constant, the marginal product of that input will eventually decrease. In other words, there is a point where adding more of a variable input will not lead to a proportional increase in output.  
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