2025 | 2026 Fall 1 BADM 7200E for Faik Koray (Online) / Exam #3 Questions with 100% Verified Answers UPDATED!!!!

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Exam #3

Status Finished
Started Saturday, October 11, 2025, 8:17 AM
Completed Saturday, October 11, 2025, 9:21 AM
Duration 1 hour 3 mins
Points 70.00/70.00
Grade 100.00 out of 100.00




Question 1
Correct 5.00 points out of 5.00



For each statement below, state whether it is true or false.

Marginal costs decrease as output increases because the firm can spread fixed costs over more units. False 

If there are diminishing returns, the marginal cost curve must be positively sloped. True 

If average cost is increasing, marginal cost must be increasing. True 



Your answer is correct.

The correct answer is:
Marginal costs decrease as output increases because the firm can spread fixed costs over more units. → False,
If there are diminishing returns, the marginal cost curve must be positively sloped. → True,

If average cost is increasing, marginal cost must be increasing. → True




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, Question 2
Correct 5.00 points out of 5.00


Suppose a firm has the following information. The Marginal Product of Labor for their production is MPL =
50 + 4L - 0.15L2. Further assume that the current price for their output is $5 per unit and the wage rate is 
$25 per hour. The optimal number of labor hours that the firm should hire is _____.

a. 31.9

b. 8.5

c. 35.2 

d. 5.2




Your answer is correct.

The correct answer is:
35.2




Question 3
Correct 5.00 points out of 5.00



Suppose a firm's production function is Q = 50L + 2L2 - 0.05L3. Which of the following is the Average Production
of Labor (APL)?




a. 4L - 0.15L2

b. 50 + 4L - 0.15L2

c. 50 + 2L - 0.05L2 

d. 2L - 0.05L2
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Your answer is correct.

The correct answer is:
50 + 2L - 0.05L2