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 farmer adds more labour to a fixed amount of land. Initially, output increases rapidly, then slowly, and finally decreases. Which law is being illustrated?
Define average product.
Explain the difference between total product, marginal product, and average product.
Explain the three stages of the Law of Variable Proportions.
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?
If marginal product is greater than average product, what happens to average product? (1) It rises (2) It falls (3) It remains constant (4) It becomes zero
If the average product is falling, what can you say about the marginal product? (1) Marginal product is above average product (2) Marginal product is below average product (3) Marginal product is equal to average product (4) Marginal product is zero
If total product is increasing at a decreasing rate, what can you say about the marginal product? (1) Marginal product is increasing (2) Marginal product is constant (3) Marginal product is decreasing but positive (4) Marginal product is negative
In which stage does the average product reach its maximum? (1) Stage I (2) Stage II (3) Stage III (4) None of these
Fill in the blank: In Stage II, marginal product is ______ but decreasing.
Fill in the blank: Marginal product becomes negative in ______ stage of the Law of Variable Proportions.
Fill in the blank: The Law of Variable Proportions is also known as the Law of ______ Returns.
Fill in the blank: The Law of Variable Proportions is based on the ______ run production function.
True or False: In Stage I of the Law of Variable Proportions, both marginal product and average product are rising.
True or False: The Law of Variable Proportions assumes that technology remains unchanged during the production process.
True or False: The Law of Variable Proportions can be applied in the long run.
True or False: The Law of Variable Proportions is also called the Law of Returns to Scale.
