According to the law of variable proportions, the marginal product of an input initially rises and then after a certain level of employment, it starts falling. The MP curve therefore looks like: |
'U' Shaped Convex to Origin. 'L' Shaped. Inverse 'U' Shaped. |
Inverse 'U' Shaped. |
The correct answer is Option (4) → Inverse 'U' Shaped. According to the law of variable proportions, the marginal product of an input initially rises and then after a certain level of employment, it starts falling. The MP curve therefore, looks like an inverse ‘U’-shaped curve .
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