Law of Variable Proportions
Economics ⇒ Consumer and Producer Behaviour
Law of Variable Proportions starts at 11 and continues till grade 12.
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See sample questions for grade 11
A firm employs 1, 2, 3, 4, and 5 workers and gets total products of 10, 25, 45, 60, and 70 units respectively. Calculate the marginal product of the 4th worker.
A firm’s total product increases from 100 to 130 units when an additional worker is employed. What is the marginal product of this worker?
Define marginal product.
Describe the behaviour of total product in all three stages of the Law of Variable Proportions.
Explain the difference between total product, average product, and marginal product.
Explain why a rational producer will not operate in Stage III of the Law of Variable Proportions.
Explain why Stage II of the Law of Variable Proportions is considered the most efficient stage for production.
If a firm is operating where marginal product is negative, what should it do to maximize output?
If the average product of labour is 20 units and the marginal product is 15 units, what will happen to average product if one more worker is employed?
If the marginal product of labour is negative, what happens to total product?
If total product is increasing at a decreasing rate, what can you say about marginal product?
State any two assumptions of the Law of Variable Proportions.
State the Law of Variable Proportions.
Suppose a farmer increases the number of workers on a fixed piece of land. Initially, output increases rapidly, then slowly, and finally decreases. Which law is being illustrated?
What are the three stages of the Law of Variable Proportions?
What happens to average product when marginal product is above it?
What is meant by the term 'fixed factor' in the context of the Law of Variable Proportions?
What is the main cause of increasing returns in Stage I of the Law of Variable Proportions?
What is the relationship between total product and marginal product when total product is at its maximum?
What is the shape of the marginal product curve under the Law of Variable Proportions?
