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The law of variable proportions, also known as the law of diminishing returns, explains how output changes when one factor of production is varied while keeping other factors constant. This law is central to microeconomics and helps in understanding production behavior in the short run. According to this law, when a variable factor, such as labor, is increased while other factors like capital or land are held constant, the total output initially increases at an increasing rate, then increases at a decreasing rate, and eventually may decline. This behavior can be _______ _______ ____ __________ ________ _______ _______ ____ _________.
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