POST UTME BSU 2021 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A firm has a cost function given by C = 100 + 2Q + 0.5Q^2, where C is the total cost, and Q is the quantity produced. If the firm produces 50 units, what is the total cost?
Question 2
A company is considering a new transportation mode that has a capacity of 100 units per hour. If the company's current transportation mode has a capacity of 50 units per hour, what is the percentage increase in transportation capacity?
Question 3
A company's sole trader is considering purchasing a liability insurance policy to cover potential losses from a business dispute. The policy has a premium of ₦120,000 and a deductible of ₦50,000. If the company's expected loss is ₦200,000, what is the expected value of perfect insurance?
Question 4
A company has a warehouse with a capacity of 10,000 units. The company receives an order for 5,000 units. If the lead time is 5 days, what is the safety stock?
Question 5
A warehouse with a capacity of 10,000 square meters has a storage density of 5 units per square meter. If the warehouse is currently storing 20,000 units, what is the percentage of storage capacity utilization?
Question 6
A warehouse has a storage capacity of 10,000 units. The warehouse is currently storing 8,000 units. If 2,000 more units are received, what is the new storage capacity?
Question 7
A sole trader's business is considered a separate legal entity from its owner. However, in the event of a lawsuit, the owner's personal assets may be at risk. Which of the following best describes this situation?
Question 8
A company's marketing strategy involves a 20% discount on all products for the first 100 customers. If the original price of the product is ₦500, determine the total revenue generated by the first 100 customers.
Question 9
A freight company has a contract with a supplier to transport goods from Lagos to Abuja. The contract specifies that the goods must be delivered within 7 days. However, due to unforeseen circumstances, the goods are delayed by 3 days. What is the freight company's liability?
Question 10
A company has a fleet of 50 vehicles, with an average annual mileage of 50,000 kilometers. If the company's insurance policy has a deductible of ₦50,000, what is the total premium for the year?
Question 11
A bank's financial institution has invested in a portfolio of stocks and bonds. The portfolio has a total value of ₦10,000,000, and the bank's investment manager must decide how to allocate the funds. If the manager expects the stock market to rise by 10% in the next year, and the bond market to fall by 5%, what is the expected return on investment?
Question 12
A firm's production function is given by Q = 2L^0.4K^0.3. If the firm's output is 100 units, and the wage rate is ₦100 per hour, and the rental rate is ₦50 per unit of capital, determine the optimal combination of labor and capital that minimizes the total cost of production.
Question 13
A consumer purchases a product for ₦10,000. The product has a warranty period of 2 years. If the consumer returns the product after 1 year, what is the refund amount?
Question 14
A company has a production function given by Q = 100L^0.5K^0.5, where Q is the quantity produced, L is the labor input, and K is the capital input. If the company increases labor input from 100 to 121 units, and capital input from 100 to 121 units, by how much will the quantity produced increase?
Question 15
A company's financial statements are not audited annually. What is the legal implication of this?
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