Answer key to sample problems for test 3

Here is the key for the sample multiple choice problems. I apologize that a few of them are duplicates. As I've mentioned before I put these sample tests together from old tests. Sometimes questions get recycled (hmmm....).

If you think there are any errors please alert me. Also, check back for any changes.

1-C, 2-D, 3-C, 4-D, 5-C, 6-B, 7-C,
8-D, 9-C, 10-A, 11-C, 12-A,
13-D, 14-B, 15-A, 16-B,
17-B, 18-B, 19-C, 20-B, 21-D,
22-B, 23-B, 24-A, 25-B,
26-A, 27-D, 28-C,
29-B, 30-D, 31-A, 32-C, 33-B, 34-C**,
35-C, 36-A, 37-C*, 38-A*, 39-D, 40-A, 41-A,
42-D, 43-B, 44-B, 45-B, 46-B, 47-D
48-D, 49-A. (sorry I forgot these earlier. Thanks Laura.)

*I didn't talk about implicit vs. explicit costs in class. I was going to reserve that for a later discussion. I do not plan to ask questions about explicit vs. implicit costs. You just need to know the difference between fixed and variable costs for now.

**34 was initially listed as B, but the answer is C. Sorry about that. Thanks to Thesasquatch!! (And sorry this did not get updated until 2:05 this afternoon before the test.)