Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Production and Costs

Question:
Law of variable proportions is applicable in :
Options:
Short run
Long run
Neither short run nor long run
Both short run and long run
Correct Answer:
Short run
Explanation:
Law of variable proportions is applicable in Short run because as we increase one factor of production(say, labour), we keep the other factor (capital) constant.