Consider the following statements about the law of variable proportions:
(i) Input ratio remains unchanged.
(ii) Ultimately the marginal and average product of variable input becomes negative.
(iii) Effect of technological change is visible on output.
Choose the correct answer from the code given below :
1
(i) and (ii) are correct
2
Only (ii) is correct
3
(ii) and (iii) are correct
4
None of the above statements is correct