Which measurement rises most quickly as more labor is hired?

Question

Quizplus · Accepted Answer

The marginal factor cost of labor rises most quickly as more labor is hired due to the law of diminishing returns, which states that adding an additional factor of production results in smaller increases in output. This means that the cost of hiring an additional unit of labor (marginal factor cost) increases as more labor is hired, especially in the short run where at least one factor of production is fixed.

Which Measurement Rises Most Quickly as More Labor Is Hired