Lesson 6 of 10 • 2 upvotes • 13:44mins
We break down the illustration of the law of variable proportions into the stages of increasing returns, diminishing returns and negative returns.
10 lessons • 2h
Theory of Production : Chapter Overview
5:46mins
Production Function
12:47mins
Total, Average and Marginal Physical Products
13:05mins
Law of Variable Proportions
13:28mins
Causes of the Law of Variable Proportions
13:09mins
Stages of Production
13:44mins
Returns to Scale
13:51mins
Causes of Returns to Scale
12:25mins
Comparison of Law of Variable Proportions and Returns to Scale
11:04mins
Chapter Revision
10:46mins