Economics · Production Theory
Consider the following statements about the law of variable proportions: (i) Input ratio remains unchanged. (ii) Ultimately, the marginal and average products of the variable input become negative. (iii) The effect of technological change is explicitly observed on output. Choose the correct answer from the code given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1None of the above statements is correct✓
- 2(ii) and (iii) are correct
- 3Only (ii) is correct
- 4(i) and (ii) are correct
Correct answer
None of the above statements is correct
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