Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
18Activity
0 of .
Results for:
No results containing your search query
P. 1
Law of Variable Proportions

Law of Variable Proportions

Ratings: (0)|Views: 536|Likes:
Published by Wasipfc

More info:

Published by: Wasipfc on Apr 12, 2010
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PPT, PDF, TXT or read online from Scribd
See more
See less

09/29/2011

pdf

text

original

 
The Law of VariableProportions
(Behind the Supply Curve, Part I)
 
Introduction
When producing an economic product, thesupplier must decide how much of eachinput to use:
 ±Land ±Labo ±Capital
In particular, the supplier must examinethe relation between input and output.
 
The Law of Variable Proportions
Is the answer to the question: How will totaloutput change when all inputs except one arefixed? (Answer to be provided later)Two ways to illustrate the answer:
 ±Production schedule (chart) ±Production function (graph)
Usually, as in this example, labor is the variableinput; all other variables are held constant.

Activity (18)

You've already reviewed this. Edit your review.
1 hundred reads
1 thousand reads
Gaurav Somani liked this
Shubhada Pareek liked this
aaahossain liked this
mannmore385 liked this
mannmore385 liked this
minusahoo liked this
Love Kamboj liked this

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->