Final answer:
The truthfulness of the statement cannot be determined based on the given information.
Step-by-step explanation:
The statement that says, "Suppose Firm 2's cost of production is C < 20." is not a complete statement, so it cannot be determined whether it is true or false. The cost of production, denoted as C, needs to be compared to a specific value in order to determine its truthfulness. Therefore, the answer to this question cannot be determined based on the given information.