POST UTME ESUT 2022 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company has a warehouse with a capacity of 1000 units. The company's demand function is given by D(p) = 2000 - 5p. If the company wants to maximize its profit, what is the optimal price?
A. 100
B. 150
C. 200
D. 250
Question 2
A warehouse has a storage capacity of 10,000 units. The warehouse is currently 70% full, with 7,000 units stored. If 1,500 new units are received, what is the new percentage of the warehouse that is full?
A. 50%
B. 55%
C. 60%
D. 65%
Question 3
A firm is considering two different pricing strategies. Strategy A involves charging a price of ₦100 per unit, while strategy B involves charging a price of ₦120 per unit. If the firm expects to sell 10,000 units under strategy A and 8,000 units under strategy B, which strategy will result in higher total revenue?
A. Strategy A
B. Strategy B
C. Both strategies will result in the same total revenue
D. Neither strategy is effective
Question 4
A firm's cost function is given by C(x) = 50x + 100. If the firm's marginal cost is 50, what is the value of x?
A. 10
B. 20
C. 30
D. 40
Question 5
A consumer has purchased a product with a defect. The consumer is entitled to a refund or replacement under the Consumer Protection Act. Which of the following is a requirement for the consumer to be eligible for a refund or replacement?
A. The product must be within the warranty period
B. The consumer must provide proof of purchase
C. The product must be defective due to a manufacturing fault
D. The consumer must have purchased the product from an authorized dealer
Question 6
A company has a 20% dividend payout ratio. If the company's net income is ₦1,000,000, what is the amount of dividend paid to shareholders?
A. ₦200,000
B. ₦150,000
C. ₦250,000
D. ₦300,000
Question 7
A firm is considering the following two production processes for its product. Process A requires an initial investment of ₦1,000,000 and has a variable cost of ₦100 per unit. Process B requires an initial investment of ₦1,500,000 and has a variable cost of ₦80 per unit. If the firm produces 5,000 units, what is the total cost of production for each process?
A. Process A: ₦1,500,000; Process B: ₦1,200,000
B. Process A: ₦1,200,000; Process B: ₦1,500,000
C. Process A: ₦1,000,000; Process B: ₦1,000,000
D. Process A: ₦1,500,000; Process B: ₦1,500,000
Question 8
A company has a production process that requires 2 hours of labor and 1 hour of machine time to produce 1 unit of a product. If the company operates 8 hours a day and has 10 machines available, how many units can the company produce in a day?
A. 80 units
B. 100 units
C. 120 units
D. 140 units
Question 9
A company has a warehouse with a storage capacity of 10,000 units. The warehouse is currently 70% full, with 7,000 units stored. If 1,500 new units are received, what is the new percentage of the warehouse that is full?
A. 50%
B. 55%
C. 60%
D. 65%
Question 10
A company uses the following data to calculate its weighted average cost of capital (WACC):
A. Debt: ₦100m, Equity: ₦200m, Cost of debt: 10%, Cost of equity: 15%
B. Debt: ₦200m, Equity: ₦100m, Cost of debt: 15%, Cost of equity: 10%
C. Debt: ₦300m, Equity: ₦100m, Cost of debt: 12%, Cost of equity: 18%
D. Debt: ₦100m, Equity: ₦300m, Cost of debt: 18%, Cost of equity: 12%
Question 11
A company is using a transportation mode that involves the movement of goods by road. Which of the following transportation modes is the company using?
A. Road transportation
B. Rail transportation
C. Air transportation
D. Water transportation
Question 12
A company has a fire insurance policy with a premium of ₦50,000. The company pays a claim of ₦200,000. What is the benefit ratio?
A. 2:1
B. 3:1
C. 4:1
D. 5:1
Question 13
A firm is considering two different production processes. Process A costs ₦5,000,000 and produces 10,000 units, while process B costs ₦6,000,000 and produces 12,000 units. Which process should the firm choose if it wants to minimize its cost per unit?
A. Process A
B. Process B
C. Both processes are equally cost-effective
D. Neither process is cost-effective
Question 14
A company has a market share of 30% in the industry. If the industry grows by 10% in a year, what will be the company's market share in the next year?
A. 20%
B. 25%
C. 30%
D. 35%
Question 15
The Consumer Protection Act of 1999 provides for the establishment of the National Consumer Protection Agency (NCPA). Which of the following is a primary function of the NCPA?
A. To investigate complaints from consumers
B. To provide education and awareness on consumer rights
C. To establish standards for consumer products
D. To regulate consumer credit

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