Law of variable proportion
Understand the Problem
The question is asking about the Law of Variable Proportion, which is an economic principle that describes how the output of a production process changes as one input is varied while others are held constant. It typically relates to concepts of efficiency, diminishing returns, and productivity in production functions.
Answer
Increasing one input while others are fixed leads to a decline in its marginal product.
The Law of Variable Proportion states that if the quantity of one production factor is increased while keeping others constant, the marginal product of that input will eventually decline.
Answer for screen readers
The Law of Variable Proportion states that if the quantity of one production factor is increased while keeping others constant, the marginal product of that input will eventually decline.
More Information
The Law of Variable Proportion, also known as the Law of Diminishing Returns, implies that continued increases of a single input will result in reduced efficiencies and eventually negative returns if taken too far.
Tips
Confusing marginal product with total product changes can lead to misunderstanding the input-output relationship.
Sources
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