Understanding the Law of Variable Proportions in Short Run Production Function
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Questions and Answers

What is the law of variable proportion concerned with?

  • Short run production function (correct)
  • Elasticity of substitution
  • Constant return to scale
  • Long run production function

    • In the short run production function, what happens if one variable input is increased while other inputs are held constant?

  • Total product always decreases
  • Marginal product of the variable input first increases, then diminishes (correct)
  • Marginal product of the variable input always increases
  • Average product always increases

    • What does the short run production function assume about at least one input factor?

  • It's perfectly elastic
  • It's perfectly inelastic
  • It's fixed (correct)
  • It can't be varied

    • What does the law of diminishing returns state in relation to the short run production function?

    <p>Marginal product of the variable input diminishes as more units are added</p> Signup and view all the answers

    What characterizes the short run in terms of production?

    <p>All inputs are fixed</p> Signup and view all the answers

    What role does technology play in the short run production function?

    <p>It directly affects total product and marginal product</p> Signup and view all the answers

    In the short run production function, what does the total product curve illustrate?

    <p>The relationship between output level and quantity of the variable input</p> Signup and view all the answers

    Which concept best explains why adding more units of a variable input eventually leads to diminishing returns in the short run production function?

    <p>Law of diminishing returns</p> Signup and view all the answers

    What happens to marginal cost as more units of a variable input are added in the short run production function?

    <p>It first decreases, then increases</p> Signup and view all the answers

    What best describes fixed inputs in the short run production function?

    <p>Inputs that are completely unchangeable</p> Signup and view all the answers

    Study Notes

    The law of variable proportion

    The short run production function

    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,
    • The short run production function, or short run production function,

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    Description

    This quiz covers the concept of the law of variable proportions within the context of the short run production function. Test your knowledge of how input levels and output change in the short run, and the associated principles of variable proportions.

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