The Law of Diminishing Returns states that when more and more units of the variable factor are used in a production function while keeping the quantities of the fixed factor constant, a point will eventually be reached where the marginal product of the variable factor starts to diminish.

In this context, the marginal product refers to the increase in output that is obtained from each additional unit of the variable factor. Initially, as more units of the variable factor are added, the marginal product increases. This means that each additional unit of the variable factor contributes more to the overall output.

However, as the Law of Diminishing Returns kicks in, the gains from adding more units of the variable factor begin to diminish. This means that each additional unit contributes less to the overall output. Eventually, the marginal product reaches a point where it starts to decline.

Therefore, option 3 is the correct answer because it correctly states that the marginal product will diminish as more and more units of the variable factor are used.

It is important to note that options 1, 2, and 4 are not in line with the Law of Diminishing Returns. Option 1 suggests that the marginal revenue will diminish, which is not directly related to the Law of Diminishing Returns. Option 2