MGCR 293 International Business Final Exam Practice Multiple-Choice Questions and answers new update McGill University
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Course
MGCR 293 International Business
Institution
MGCR 293 International Business
MGCR 293 International Business Final Exam Practice Multiple-Choice Questions and answers new update McGill University
Section 1: 50 Questions: Each question is worth 1 point.
1. A firm’s total cost function is TC = 100 + 50Q – 10Q2 + Q3. What is the output level (Q*) that minimizes the ave...
MGCR 293 International Business Final Exam
Practice Multiple-Choice Questions and
answers new update McGill University
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1
Practice Questions for the Final Exam, MGCR
293 Managerial Economics
Instructions:
The final exam is cumulative; however, majority of questions will be from Chapter 6 – Chapter
12. You still have to use some topics/formulas from previous chapters to answer the questions
in the final exam.
Format of the practice questions is the same as the final exam:
o There is a total of 75 questions worth 100 points. The questions are separated into 2
sections, as follows:
Section 1: 50 questions; each question is worth 1 point.
Section 2: 25 questions; each question is worth 2 points.
o The time limit for the final exam is 3 hours + 30−min. grace period.
o You will write the final exam in Quizzes, myCourses. That is the same way you have
done in the midterm exam.
Final exam schedule:
o Timed open−book exam: From 18 Dec 2020 at 2 PM to 20 Dec 2020 at 2 PM (48
hours access period).
o You will have 3 hours + 30-min grace period to complete the final exam.
Section 1: 50 Questions: Each question is worth 1 point.
1. A firm’s total cost function is TC = 100 + 50Q – 10Q2 + Q3. What is the output level (Q*)
that minimizes the average variable cost?
A. Q* = 5 units.
B. Q* = 10 units.
C. Q* = 15 units.
D. Q* = 20 units.
E. None of the above.
2. A firm’s total cost function is TC = 10 + 5Q – 9Q2 + 0.5Q3. What is the output level (Q*) at
which diminishing marginal returns occur?
A. Q* = 5 units.
B. Q* = 6 units.
C. Q* = 12 units.
D. Q* = 20 units.
E. None of the above.
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