POST UTME CHRISTOPHER UNIVERSITY 2017 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A firm's revenue function is given by R(q) = 10q^2 + 20q + 100. What is the marginal revenue when q = 5?
Question 2
A firm is considering two different investment projects. Project A has a 10% chance of yielding a return of ₦100,000 and an 80% chance of yielding a return of ₦50,000. Project B has a 20% chance of yielding a return of ₦120,000 and a 70% chance of yielding a return of ₦40,000. Which project has the higher expected return?
Question 3
A marketing manager is responsible for developing a marketing plan that meets the company's objectives. Which of the following is a key element of a marketing plan?
Question 4
A company's insurance policy covers losses up to ₦1 million. If the company suffers a loss of ₦800,000, what is the amount paid by the insurance company?
Question 5
A company's production function is given by Q = 2L^0.5 + 3K^0.5, where Q is output, L is labor and K is capital. If the firm's labor and capital inputs are increased by 20% and 15% respectively, what is the resulting percentage change in output?
Question 6
A company's marketing strategy involves a 20% increase in advertising expenditure and a 15% decrease in sales promotion expenditure. What is the resulting percentage change in the company's total marketing expenditure?
Question 7
A company has a total of ₦1,000,000 in its total assets, which consists of ₦500,000 in cash and ₦500,000 in accounts receivable. What is the company's accounts payable?
Question 8
A firm specializes in producing a single product, which is a combination of two inputs, labour and capital. If the production function is given by Q = 2L^(1/2)K^(1/2), where Q is the quantity produced, L is the units of labour, and K is the units of capital, what is the marginal product of labour (MPL) when L = 16 and K = 9?
Question 9
A firm's production function is given by Q = 2L^0.5 + 3K^0.5, where Q is output, L is labor and K is capital. If the firm's labor and capital inputs are increased by 20% and 15% respectively, what is the resulting percentage change in output?
Question 10
A company uses a third-party logistics provider to transport its goods. If the goods are damaged during transit, which party is primarily liable for the damage?
Question 11
A consumer has the following utility function: U = 2x + 3y, where x and y are the quantities of two goods consumed. If the prices of the two goods are 2 and 3 respectively, and the consumer's income is 12, what is the optimal bundle of goods that the consumer will purchase?
Question 12
A company's cost function is given by C = 1000 + 20Q, where C is the cost and Q is the quantity produced. If the company produces 100 units, what is its total cost?
Question 13
In a perfectly competitive market, the supply curve is horizontal and the demand curve is downward-sloping. What is the equilibrium price and quantity of a product in such a market?
Question 14
A firm's marketing strategy involves a 20% discount on all products sold during a promotional period. If a product's original price is ₦2,000, calculate the selling price during the promotional period.
Question 15
A consumer has the following indifference curve: U = 2x + 3y, where x and y are the quantities of two goods consumed. If the prices of the two goods are 2 and 3 respectively, and the consumer's income is 12, what is the optimal bundle of goods that the consumer will purchase?
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