Correct Answer: Option B

Explanation

The law of diminishing returns, also known as the law of variable proportions, states that if one input in the production of a
commodity is increased while all other inputs are held fixed, a point will eventually be reached at which additions of the input
yield progressively smaller, or diminishing, increases in output. This law is applicable to the variable factors of production.
Therefore, the correct answer is 'variable factors of production'.

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