Explain why the marginal rate of technical substitution is likely to diminish as more and more labor is substituted for capital. A. The substitution of labor for capital increases the MP Subscript Upper LMPL and decreases the MP Subscript Upper KMPK. Since the MRTS is the ratio of the former to the latter, it will diminish as this substitution occurs. B. The substitution of labor for capital increases the MP Subscript Upper LMPL and decreases the MP Subscript Upper KMPK. Since the MRTS is the ratio of the latter to the former, it will diminish as this substitution occurs. C. The substitution of labor for capital decreases the MP Subscript Upper LMPL and increases the MP Subscript Upper KMPK. Since the MRTS is the ratio of the former to the latter, it will diminish as this substitution occurs. D. The substitution of labor for capital decreases the MP Subscript Upper LMPL to a greater extent than it increases the MP Subscript Upper KMPK. Since the MRTS is the product of the former and the latter, it will diminish as this substitution occurs.