Answering all questions compulsory... Question 18 of 20 >Which statement is false?Macmillan LearningMarginal cost and marginal productivity are inversely related.A marginal cost curve will always intersect the average total cost curve at the minimum average total cost.Marginal cost is the change in a firm's total cost due to a one unit change in output.Costs that are small and unimportant with little impact on profits are called marginal costs.Consider the table.Output012345678910Total cost100110115125140160190230 280 340420What is the marginal cost of the fifth unit based on the table?$160$20-$20$0

Step 1: Marginal cost is defined as the additional amount of cost incurred when one more unit of a…

Answered: Question 18 of 20 > Which statement is…

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter21: Production And Costs

Section: Chapter Questions

Problem 9WNG

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