POST UTME BSU 2022 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A consumer has a budget of ₦100, and the prices of two goods are ₦20 and ₦30 respectively. If the consumer's utility function is given by U = 2x + 3y, where x and y are the quantities of the two goods consumed, what is the consumer's optimal bundle of goods?
Question 2
A consumer has a utility function given by U = 2x + 3y, where x and y are the quantities of two goods consumed. If the consumer's budget is ₦100, and the prices of the two goods are ₦20 and ₦30 respectively, what is the consumer's optimal bundle of goods?
Question 3
A firm's revenue function is given by R = 2x^2 + 3x, where x is the number of units sold. If the firm wants to maximize its revenue, how many units should it produce?
Question 4
A company's marketing strategy involves a mix of product, price, place, and promotion. Which of the following is NOT a characteristic of a product?
Question 5
A firm's production function is given by Q = 2L^0.5K^0.5. If the firm wants to produce 16 units of output, and the price of labor is ₦100 per unit, while the price of capital is ₦200 per unit, how much will it cost the firm to produce 16 units of output?
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