POST UTME LEAD CITY UNIVERSITY 2019 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A company's transportation costs are given by the equation C(x) = 0.05x^2 + 10x. If the company transports 50 units of goods, what is the total transportation cost?
Question 2
A firm's introduction to commerce is most likely to be influenced by its
Question 3
In a sole trader business, what is the primary advantage of using a sole proprietorship structure?
Question 4
A firm's production function is given by Q = 2L^0.5K^0.5. If the firm wants to produce 16 units of output, how many units of labor (L) and capital (K) should it hire?
Question 5
A firm has a warehouse with a capacity of 1000 units. The firm receives a shipment of 500 units of a commodity. The firm wants to store the commodity in the warehouse. What is the maximum number of units that can be stored in the warehouse?
Question 6
A firm is considering a new production process that will reduce its costs by 10%. However, the new process will also increase its variable costs by 15%. What will be the effect on the firm's profit?
Question 7
A company's foreign trade policy is most likely to be influenced by its
Question 8
A firm is considering a new production process that will increase its output by 25%. However, the new process will also increase its variable costs by 30%. What will be the effect on the firm's profit?
Question 9
A company is considering a new marketing strategy that will increase its sales by 15%. However, the new strategy will also increase its costs by 20%. What will be the effect on the company's profit?
Question 10
In a perfectly competitive market, the supply curve is determined by the marginal cost curve. What is the relationship between the marginal cost curve and the supply curve?
Question 11
A company has a capital of ₦1,000,000 and a reserve of ₦500,000. What is the total amount of capital and reserve?
Question 12
A firm's cost function is given by C = 2L + 3K. If the firm hires 4 units of labor and 6 units of capital, what is its total cost?
Question 13
A consumer protection agency has identified a company that has engaged in unfair business practices. What is the primary action the agency should take?
Question 14
A consumer has a budget of ₦10,000 and wants to buy two goods, X and Y. The prices of the goods are ₦5,000 and ₦3,000, respectively. If the consumer spends all the budget, what is the maximum amount that can be spent on good X?
Question 15
A company issues 10,000 shares of 1 par value at a premium of 2 per share. How much will the company receive from the sale of these shares?
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