Quiz 3 - Answer Key.docx - GSBA511 Marshall School of...

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GSBA511 Akbulut Marshall School of Business Fall 2016 Quiz 3 – Answer Key Instructions: You have 30 minutes to complete this exam. There are 10 multiple choice questions and 1 short answer question with 3 parts. The maximum total score is 24 points. Good luck! Student’s Full Name: _____________________________ Part I: 10 Multiple Choice Questions (20 pts.) 1
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1. The total cost (TC) of producing computer software diskettes (Q) is given as: TC = 200 + 5Q. What is the average fixed cost? a. 200 b. 5Q c. 5 d. 200/Q. 2. If Valerie purchases socks at $5 and gets 25 units of marginal utility from the last unit, and hair bands at $3 and gets 15 units of marginal utility from the last hair band purchased, she
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