POST UTME JOSEPH AYO BABALOLA UNIVERSITY 2022 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A company has a warehouse with a capacity to store 1000 units of goods. The warehouse is currently storing 500 units of goods. If the company receives an order for 200 units of goods, what is the maximum number of units that can be stored in the warehouse?
Question 2
A firm's production function is given by Q = 2L^0.5H^0.5, where Q is output, L is labor, and H is capital. If the firm wants to increase output by 20% while keeping labor constant at 100 units, what percentage increase in capital is required?
Question 3
A company has a warehouse with a capacity of 10,000 units. The current inventory level is 8,000 units. If the company receives a new shipment of 2,000 units, what is the new inventory level?
Question 4
A producer of goods uses a production function that exhibits increasing returns to scale. If the producer increases the quantity of labor from 100 units to 120 units, and the quantity of capital from 50 units to 60 units, what is the percentage change in output?
Question 5
A firm's production function is given by Q = 2L^0.5H^0.5, where Q is the quantity produced, L is the number of laborers, and H is the number of machines. If the firm wants to produce 16 units of output, and it has 4 laborers, how many machines (H) should it hire?
Question 6
A firm's cost function is given by the equation C = 2L + 3K, where C is cost, L is labor, and K is capital. If the firm increases labor from 4 units to 6 units, and capital from 2 units to 3 units, what is the new level of cost?
Question 7
A consumer has a utility function given by U = 2x^0.5y^0.5, where x is the quantity of good A and y is the quantity of good B. The prices of A and B are 5 and 3 respectively. If the consumer's income is 1000, what is the consumer's optimal bundle?
Question 8
A company's risk management policy involves the use of insurance to mitigate risks. If the company has a 10% chance of losing ₦100,000 and the insurance premium is 5% of the potential loss, what is the expected value of the insurance premium?
Question 9
A company's Memorandum of Association is a document that outlines its _______ and powers
Question 10
A transport company has a fleet of 10 trucks, each with a capacity to carry 20 tons of goods. If the company receives an order for 200 tons of goods, how many trucks will be required to fulfill the order?
Question 11
A company's marketing manager is considering a new advertising campaign that will increase sales by 10% in the first year, 15% in the second year, and 20% in the third year. If the company's current sales are ₦1,000,000, what is the total sales revenue after three years?
Question 12
A bank's _______ is the amount of money that it has available to lend to customers
Question 13
A consumer is considering purchasing a product that costs ₦1000. The consumer's utility function is given by U = 2x - x^2, where x is the number of units of the product purchased. What is the maximum amount the consumer is willing to pay for the product?
Question 14
The concept of comparative advantage in international trade is based on the idea that countries should specialize in producing goods for which they have a lower opportunity cost. Which of the following is a correct example of comparative advantage?
Question 15
The _______ of a company refers to the process of selling a company's assets to pay off its debts
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