As more labor is hired in the short run,diminishing returns are observed because:

Name: As more labor is hired in the short run,diminishing returns are observed because:
Brand: Quizplus
Rating: 4.9 (56 reviews)

Question

Quizplus · Accepted Answer

The principle of diminishing returns states that as more labor is hired while keeping other inputs constant (like capital and land), each additional worker contributes less to output because they have less capital and land to work with. This leads to a decrease in the marginal product of labor.

As More Labor Is Hired in the Short Run,diminishing Returns