The law of diminishing returns or diminishing marginal productivity a. Only applies in the short run b. Is universal and applies in both the short and the long run c. Only applies in the long run d. Is selective and only applies in large firm The law of diminishing returns or diminishing marginal productivity a. Only applies in the short run b. Is universal and applies in both the short and the long run c. Only applies in the long run d. Is selective and only applies in large firm