According to the law of variable proportions. Which among the the following option is correct?

Option 1 -> Correctly describes the law of variable proportions where MP initially increases due to better utilization of fixed factors, then decreases.

Option 2 -> Incorrect sequence; contradicts the law of variable proportions.

Option 3 -> Ignores the initial increasing phase of marginal product.

Option 4 -> Contradicts the fundamental principle of variable proportions.

Hence, Option 1: The marginal product of an input initially rises and then, it starts falling. -> According to the law of variable proportions (also called law of diminishing returns), when one input is varied while keeping others constant, the production process goes through three stages: (1) Increasing returns - where MP rises due to better utilization of fixed factors and specialization, (2) Diminishing returns - where MP falls but remains positive as fixed factors become limiting, and (3) Negative returns - where MP becomes negative due to over-utilization. This law reflects the real-world production behavior in the short run. -> correct