POST UTME DELSU 2023 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company's sole trader has a warehouse with a capacity of 10,000 units. The company's sales manager has ordered 8,000 units of a new product. If the warehouse is currently 70% full, how many units of the new product can be stored in the warehouse?
A. 2,000
B. 4,000
C. 6,000
D. 8,000
Question 2
A company's revenue function is given by R(Q) = 3Q^2 - 2Q. If the firm produces 5 units of output, what is the firm's revenue?
A. ₦45
B. ₦50
C. ₦55
D. ₦60
Question 3
A company's insurance policy has a deductible of ₦10,000. If the company's annual premium is ₦50,000 and it makes a claim of ₦20,000, what is the company's net insurance cost?
A. ₦30,000
B. ₦40,000
C. ₦50,000
D. ₦60,000
Question 4
The Central Bank of Nigeria (CBN) uses the following monetary policy tools to control inflation:
A. Open Market Operations (OMO)
B. Reserve Requirements
C. Discount Rate
D. All of the above
Question 5
A company has a warehouse with a capacity of 1000 units. The company receives a shipment of 500 units and then sells 200 units. The company's inventory level is now
A. 500
B. 600
C. 700
D. 800
Question 6
A company's insurance policy has a deductible of ₦10,000. If the company's annual premium is ₦50,000 and it makes a claim of ₦20,000, what is the company's net insurance cost?
A. ₦30,000
B. ₦40,000
C. ₦50,000
D. ₦60,000
Question 7
A company's inventory management system uses the Economic Order Quantity (EOQ) model to determine the optimal order quantity. The EOQ model is given by the formula: EOQ = √(2DS/C), where D is the annual demand, S is the ordering cost, and C is the holding cost. If the annual demand is 1000 units, the ordering cost is ₦50 per order, and the holding cost is ₦10 per unit, what is the optimal order quantity?
A. 500 units
B. 1000 units
C. 2000 units
D. 5000 units
Question 8
A firm has a warehouse with a capacity of 5,000 units. If 3,000 units are already stored, what is the percentage of the warehouse that is occupied?
A. 60%
B. 50%
C. 40%
D. 30%
Question 9
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 commodity in such a market?
A. ₦100, 100 units
B. ₦120, 80 units
C. ₦150, 60 units
D. ₦200, 40 units
Question 10
In a perfectly competitive market, the supply curve is downward-sloping because of the law of increasing marginal opportunity cost. What is the relationship between the marginal opportunity cost and the price elasticity of demand?
A. Marginal opportunity cost is inversely related to price elasticity of demand.
B. Marginal opportunity cost is directly related to price elasticity of demand.
C. Price elasticity of demand is inversely related to marginal opportunity cost.
D. Price elasticity of demand is directly related to marginal opportunity cost.
Question 11
A company's production function is given by Q = 2L^0.5K^0.5. If the price of labor is 10 per unit and the price of capital is 20 per unit, and if the company is currently producing 100 units of output, what is the value of the marginal product of labor?
A. 5
B. 10
C. 15
D. 20
Question 12
A company's break-even point is the point at which:
A. Total revenue equals total fixed costs
B. Total revenue equals total variable costs
C. Total revenue equals total fixed and variable costs
D. Total revenue equals total contribution margin
Question 13
A consumer purchases a product for ₦10,000. If the product has a 10% discount, how much will the consumer pay?
A. ₦9,000
B. ₦9,500
C. ₦10,000
D. ₦10,500
Question 14
A firm is considering two different production technologies: one that requires 8 units of labor and 6 units of capital to produce 120 units of output, and another that requires 12 units of labor and 4 units of capital to produce 100 units of output. Which technology has a higher capital productivity?
A. Technology 1
B. Technology 2
C. Both technologies have the same capital productivity
D. Cannot be determined without more information
Question 15
A company is considering two marketing strategies: Strategy A, which involves a ₦10,000 advertising campaign, and Strategy B, which involves a ₦20,000 advertising campaign. If the company expects to sell 100 units of its product at ₦100 each, what is the expected profit under each strategy?
A. Strategy A: ₦10,000; Strategy B: ₦20,000
B. Strategy A: ₦20,000; Strategy B: ₦10,000
C. Strategy A: ₦30,000; Strategy B: ₦40,000
D. Strategy A: ₦40,000; Strategy B: ₦30,000

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Help others prepare! Share this practice hub: