Mathematics · Production and Cost Analysis
In a production process using two factors of production (one fixed and one variable), the Law of Variable Proportions operates when:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both factors are changed in equal proportions.
- 2Both factor inputs remain completely constant.
- 3Only one factor input is changed while the other factor input is held constant.✓
- 4Both factor inputs are changed simultaneously.
Correct answer
Only one factor input is changed while the other factor input is held constant.
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