Which of the following statements best summarizes the law of diminishi

Which of the following statements best summarizes the law of diminishing marginal returns?

A) In the short run, as more labor is hired, output diminishes.
B) In the short run, as more labor is hired, output increases at a diminishing rate.
C) In the short run, the amount of labor a firm will hire diminishes as output increases.
D) As more labor is hired, the length of time that defines the short run diminishes.

ANSWER

B