POST UTME GREENFIELD UNIVERSITY 2025 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A firm's profit function is given by P(x) = R(x) - C(x), where R(x) is the revenue function and C(x) is the cost function. If the firm sells 5 units and produces 4 units, what is its profit?
Question 2
A company is considering two production methods for its new product: Method A, which requires an initial investment of ₦1,500,000 and produces 10,000 units per month, or Method B, which requires an initial investment of ₦2,000,000 and produces 15,000 units per month. If the company expects to sell each unit for ₦500, which method should it choose?
Question 3
A firm's revenue function is given by R(x) = 2x^2 + 5x - 3, where x is the number of units sold. If the firm sells 5 units, what is its revenue?
Question 4
A warehouse manager is responsible for maintaining a inventory of 10,000 units of a product. The product has a shelf life of 6 months. What is the minimum frequency of inventory checks required to ensure that the product does not expire?
Question 5
A company is considering the introduction of a new product line. The product line has a high fixed cost of ₦5 million and a variable cost of ₦200 per unit. The selling price of the product is ₦300 per unit. If the company expects to sell 10,000 units, what is the minimum price at which the product should be sold to break even?
Question 6
A sole trader, Mr. A, has the following transactions for the month of January:
| Date | Description | Debit | Credit |
| --- | --- | --- | --- |
| 1st | Cash | ₦10,000 | |
| 5th | Goods sold | | ₦15,000 |
| 10th | Rent | ₦5,000 | |
| 15th | Cash | ₦20,000 | |
| 20th | Goods purchased | ₦8,000 | |
| 25th | Cash | ₦15,000 | |
| 31st | Goods sold | | ₦20,000 |
What is the total profit for the month of January?
Question 7
A company has the following information regarding its marketing efforts:
| Channel | Cost | Revenue |
| --- | --- | --- |
| Social media | ₦50,000 | ₦100,000 |
| Email marketing | ₦20,000 | ₦40,000 |
| Print advertising | ₦30,000 | ₦60,000 |
What is the return on investment (ROI) for the company's marketing efforts?
Question 8
A consumer's indifference curve is given by the equation u(x,y) = 2x + 3y. If the consumer's income is ₦100, and the prices of x and y are ₦20 and ₦30 respectively, what is the consumer's optimal bundle of x and y?
Question 9
A marketing manager is responsible for creating an advertising campaign to promote a new product. What type of advertising medium would be most effective for this purpose?
Question 10
A firm's production function is given by Q = 2L^0.5 + 3K^0.5. If the firm's labor and capital inputs are increased by 20% and 15% respectively, what is the percentage change in output?
Question 11
A company uses the weighted average method to value its inventory. The following information is available:
| Date | Description | Quantity | Unit Cost | Total Cost |
| --- | --- | --- | --- | --- |
| 1st | Goods received | 100 | ₦10 | ₦1,000 |
| 5th | Goods received | 200 | ₦12 | ₦2,400 |
| 10th | Goods received | 300 | ₦15 | ₦4,500 |
| 15th | Goods sold | | | |
What is the total cost of goods sold for the month?
Question 12
A consumer's budget constraint is given by the equation 2x + 3y = 100. If the consumer's indifference curve is given by the equation u(x,y) = 2x + 3y, what is the consumer's optimal bundle of x and y?
Question 13
A company's marketing mix involves the following elements: product, price, promotion, and place. Which of the following is NOT an element of the marketing mix?
Question 14
A firm's cost function is given by C(Q) = 2Q^2 + 10Q + 5. If the firm produces 10 units of output, what is the total cost of production?
Question 15
A company's production function is given by Q = 100L^0.5K^0.5, where Q is the quantity produced, L is the labor input, and K is the capital input. If the company increases its labor input from 100 to 121 units, and its capital input from 100 to 121 units, by how much will its quantity produced increase?
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