POST UTME MADONNA UNIVERSITY 2018 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A firm's cost function is given by C = 2L + 3K, where C is cost, L is labor, and K is capital. If labor and capital are increased by 20% and 15% respectively, calculate the percentage change in cost.
Question 2
A company's marketing strategy involves creating a brand identity that is consistent across all channels. What is the primary goal of this strategy?
Question 3
A firm is considering two investment projects. Project A has a 5-year life, and Project B has a 10-year life. Both projects have the same initial investment of ₦100,000. Project A has a cash inflow of ₦20,000 per year for 5 years, while Project B has a cash inflow of ₦10,000 per year for 10 years. Which project has a higher net present value (NPV)?
Question 4
A company's financial statements are audited annually by an independent auditor. The auditor's report is most likely to include which of the following?
Question 5
A firm's production function is given by Q = 2L^0.5K^0.5, where Q is output, L is labor, and K is capital. If labor and capital are increased by 20% and 15% respectively, calculate the percentage change in output.
Question 6
A consumer has a budget of ₦1,000,000 and a utility function given by U(x,y) = 2x + 3y. The prices of x and y are ₦500 and ₦200, respectively. What is the optimal bundle of x and y that maximizes utility?
Question 7
A company's marketing strategy involves a 30% increase in advertising expenditure. If the initial advertising expenditure was ₦1,500,000, calculate the new advertising expenditure.
Question 8
A company's marketing strategy involves a 30% increase in advertising expenditure. If the initial advertising expenditure was ₦1,500,000, calculate the new advertising expenditure.
Question 9
A firm is considering a new product launch. The product has a fixed cost of ₦500,000 and a variable cost of ₦100 per unit. The selling price of the product is ₦200 per unit. What is the break-even point in units?
Question 10
A consumer's utility function is given by U = 2x + 3y, where x and y are the quantities of two goods consumed. If the consumer's budget constraint is given by 2x + 3y = 12, find the optimal quantities of x and y that maximize the consumer's utility.
Question 11
A consumer purchases a product online from a retailer. The product is defective and the consumer seeks a refund. The consumer's rights are most likely to be protected by which of the following?
Question 12
A business owner wants to purchase a liability insurance policy with a premium of ₦50,000. If the deductible is ₦10,000, what is the excess?
Question 13
A company has a warehouse with a capacity of 10,000 units. If the current stock level is 8,000 units, what is the percentage of available space?
Question 14
A firm is considering the purchase of a new machine. The machine costs ₦4,000,000 and has a useful life of 10 years. The firm expects to earn an annual revenue of ₦1,800,000 from the machine. The firm's tax rate is 25%. What is the present value of the future cash flows from the machine, using a discount rate of 10%?
Question 15
A company has a production process with a fixed cost of ₦500,000 and a variable cost of ₦100 per unit. If the selling price is ₦150 per unit, what is the break-even point?
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