Economics · Production Theory
Assertion (A): The Law of Variable Proportions explains the behavior of output when one factor is varied while others are kept constant in the short run. Reason (R): In the short run, at least one factor of production remains fixed.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both A and R are true and R is the correct explanation of A✓
- 2Both A and R are true but R is not the correct explanation of A
- 3A is true but R is false
- 4A is false but R is true
Correct answer
Both A and R are true and R is the correct explanation of A
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