POST UTME AFE BABALOLA UNIVERSITY 2022 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A company has a production cost function given by C(x) = 2x^2 + 10x + 5, where x is the number of units produced. If the company wants to produce 20 units, what is the total cost?
Question 2
A company has a warehouse with a capacity of 1000 units. The company receives a shipment of 500 units of product A and 300 units of product B. If the company wants to store the products in a way that maximizes the use of space, what is the maximum number of units that can be stored?
Question 3
A firm is considering investing in a new project. The project has a required rate of return of 10% and an expected return of 12%. What is the company's expected return in excess of the required rate of return?
Question 4
A firm has a foreign trade agreement with a country that allows it to import goods worth up to ₦5 million per year. If the firm wants to import goods worth ₦3 million, what is the maximum amount it can spend on transportation?
Question 5
A company produces two products, X and Y. Product X requires 2 hours of labor and 3 units of raw material to produce 1 unit, while product Y requires 3 hours of labor and 2 units of raw material to produce 1 unit. If the company has 120 hours of labor and 180 units of raw material available, how many units of product X and product Y should the company produce to maximize profits?
Question 6
A firm has two types of insurance policies: type A and type B. Type A policy covers losses up to ₦1 million, while type B policy covers losses up to ₦500,000. If the firm has a total of ₦2.5 million in losses, how much should it pay for each policy?
Question 7
The Consumer Protection Act of 1999 provides for the establishment of a Consumer Protection Council. What is the primary function of this council?
Question 8
A company's production function is given by Q = 2L^0.5K^0.5. If the company wants to produce 400 units of output, and the wage rate is ₦10 per hour, and the rental rate is ₦5 per unit of capital, what is the minimum cost of production?
Question 9
What is the primary purpose of the Consumer Protection Act?
Question 10
A company exports 1000 units of product X to country A and 500 units of product Y to country B. If the company receives a payment of ₦500 per unit for product X and ₦300 per unit for product Y, what is the total amount of payment received?
Question 11
A company is considering the introduction of a new transportation system. The system involves the use of autonomous vehicles to improve safety. What type of transportation system is this?
Question 12
A marketing firm is considering two advertising strategies: Strategy A, which costs ₦1.2 million and is expected to generate ₦4.8 million in revenue, and Strategy B, which costs ₦1.5 million and is expected to generate ₦6 million in revenue. What is the net present value (NPV) of Strategy A, assuming a discount rate of 10%?
Question 13
A company is considering the introduction of a new marketing strategy. The strategy involves the use of social media to reach a wider audience. What type of marketing strategy is this?
Question 14
A country's trade balance is given by the equation TB = X - M, where X is the value of exports and M is the value of imports. If the value of exports is ₦100 billion and the value of imports is ₦120 billion, what is the trade balance?
Question 15
A bank offers a 5-year fixed deposit account with an interest rate of 12% per annum compounded annually. If a customer deposits ₦100,000 at the beginning of the first year, what is the future value of the investment at the end of the fifth year?
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