Load voltage variations in the discussed circuit primarily affect the collector current of Q2, which is regulated by the resistance of R2 and the voltage across it. The circuit employs a negative feedback mechanism that mitigates the early effect, ensuring that load current remains relatively stable despite changes in load voltage. As load current increases, the voltage drop across R2 and VbeQ1 rises, enhancing Q1's operation and consequently reducing Q2's collector current to maintain load current levels. Conversely, if load current decreases, the feedback mechanism adjusts Vbe1 and Vbe2 to restore the previous load current value. Overall, the circuit effectively stabilizes load current through its design.