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 12
A factory employs 5 workers and produces 50 units. When a 6th worker is added, output rises to 54 units. What is the marginal product of the 6th worker?
A farmer adds more labour to a fixed amount of land. Initially, output increases rapidly, then slowly, and finally decreases. Which law is being illustrated?
A firm increases the number of workers from 3 to 4, and total product rises from 60 to 80 units. Calculate the marginal product of the 4th worker.
A firm’s total product is 200 units with 10 workers. What is the average product per worker?
Calculate the marginal product if total product increases from 100 units to 120 units when one more unit of labour is added.
Define average product.
Explain the difference between total product, marginal product, and average product.
Explain the three stages of the Law of Variable Proportions.
Explain why Stage III of the Law of Variable Proportions is considered irrational for production.
Explain why the Law of Variable Proportions does not apply in the long run.
If the total product curve is at its maximum, what is the value of marginal product at that point?
State any two assumptions of the Law of Variable Proportions.
State any two reasons for the operation of the Law of Increasing Returns in Stage I.
State one limitation of the Law of Variable Proportions.
State the Law of Variable Proportions.
State the relationship between marginal product and total product when marginal product is zero.
What happens to total product when marginal product is negative?
What is meant by marginal product?
What is the main cause of diminishing returns in Stage II of the Law of Variable Proportions?
