Question: Labor Output Marginal Variable Fixed Product Cost Cost 100 100 250 $10 m 350 $ 20 $25 430 $30 For the firm whose production function


Labor Output Marginal Variable Fixed Product Cost Cost 100 100 250 $10 m 350 $ 20 $25 430 $30 For the firm whose production function and costs are specified in the table, which of the following statements is incorrect? O From 250 units of output through 430 units, marginal product is rising so the marginal cost is rising O Total cost first increases at a decreasing rate, then increases at an increasing rate O Marginal cost first decreases, then increases From 0 through 250 units of output, the marginal product is rising, so the marginal cost is falling
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