Listing a GPA on a resume has one basic purpose - to provide a quantifiable datapoint that is an easy way of categorizing the academic section of a student's profile. If your GPA is 3.3 or above (or, a B+ or above), this is viewed as a strength of your application. You would want to draw a reviewer's attention to a strength as many times as possible. Hence, listing it on the resume makes sense.
If your GPA is below that and hence not a strength of your application, you have multiple options: don't list it, list only the favorable aspects (Major GPA or Senior GPA), or list the favorable aspects with the Cumulative GPA.
If you don't list it, you may be able to avoid immediate scrutiny and capture the interviewer's attention with a well-written, targeted resume instead (this is where we can help with our Resume Critique service). If you list only the favorable aspects, you raise the question of why you aren't listing the Cumulative GPA, since this is the most common way of including academic credentials. If you list both, you still succeed in drawing attention to the favorable aspects while making sure you are meeting the reviewer's expectation of wanting to see your Cumulative GPA.
As an additional point, if a lower undergraduate GPA is a concern, there are multiple ways of dealing with it. Slicing and dicing the GPA as mentioned above is one option. Including an explanation in your optional essay, as well as - very important - any remedial steps you are taking such as extra coursework to be better prepared for MBA classes, is another way.
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