POST UTME CHRISTOPHER UNIVERSITY 2020 Commerce | Objective
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Question 1
A company's warehouse is designed to store 10,000 units of a product. The warehouse is currently 70% full. If 500 units are received from a supplier, what is the new percentage of the warehouse that is full?
Question 2
A firm's production function is given by Q = 2L^0.5K^0.5, where Q is the quantity produced, L is the labor input, and K is the capital input. If the firm wants to increase its output by 20% while keeping labor input constant, what percentage increase in capital input is required?
Question 3
A company has a production capacity of 500 units per day. If the company operates for 20 days, what is the total production?
Question 4
A company's sole trader is considering the purchase of a new warehouse. The warehouse costs ₦5 million and has a 5-year lifespan. The company expects to use the warehouse for 3 years and then sell it for ₦1.5 million. The company's cost of capital is 10% per annum. Calculate the present value of the warehouse using the net present value (NPV) method.
Question 5
A firm's production function is given by Q = 3L^0.7K^0.3, where Q is the quantity produced, L is the labor input, and K is the capital input. If the firm wants to increase its output by 15% while keeping labor input constant, what percentage increase in capital input is required?
Question 6
A company's insurance policy has a deductible of ₦100,000. If the company suffers a loss of ₦500,000, how much will the insurance company pay?
Question 7
A company's marketing strategy involves creating a unique selling proposition (USP) to differentiate its product from competitors. What is the primary goal of a USP?
Question 8
A company's marketing strategy involves a 20% increase in advertising expenditure. If the initial advertising expenditure is ₦1.2 million, what is the new advertising expenditure?
Question 9
A marketing strategy that involves creating a unique selling proposition (USP) to differentiate a product from its competitors is known as?
Question 10
A producer's production function is given by Q = 2L^0.5K^0.5. If the producer's labor and capital inputs are 4 and 9 respectively, calculate the output.
Question 11
A ship carrying a cargo of goods is traveling from Lagos to London. The ship's captain has received a message from the ship's owner that the goods are perishable and must be delivered within 7 days. The ship is currently 3 days into its journey. What is the minimum speed the ship must maintain to deliver the goods on time?
Question 12
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. What is the name of this legal concept?
Question 13
A firm's revenue function is given by R = 2Q^2. If the firm's output is 3, calculate the total revenue.
Question 14
A company exports 500 units of goods to a foreign country. The cost of transportation is ₦200 per unit, and the company earns a profit of ₦300 per unit. If the exchange rate is 1 USD = 500 NGN, what is the total profit in USD?
Question 15
In a sole trade business, what is the primary advantage of using a sole trader's personal assets as security for business loans?
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