. What is the law of variable proportions?
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. What is the law of variable proportions?
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Law of Variable Proportions

 According to the law of variable proportions, if more and more units of the variable factor (labour) are combined with the same quantity of the fixed factor (capital), then initially the total product will increase but gradually after a point, the total product will start diminishing. Thus Law of variable proportions is the new name of “Law of Diminishing Returns” of classical economics. Some economists also call it the Law of Non Proportional Returns.
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