Post Utme Mountain Top University 2022 Commerce Question 10
Practice objective / multiple choice question 10 from the 2022 Post Utme Mountain Top University Commerce examination.
A consumer protection agency has received a complaint from a customer who was sold a product that did not meet the required standards. The product was purchased for ₦50,000 and the customer is seeking a refund. If the product is deemed to be defective, the consumer protection agency will order the manufacturer to refund the full amount. However, if the product is deemed to be not defective, the customer will be required to pay a fee of ₦10,000 for the cost of testing. What is the expected value of the outcome for the customer?
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About This Question
This is Post Utme Mountain Top University 2022 Commerce Question 10. It is one of the objective questions from the 2022 Post Utme Mountain Top University Commerce examination.
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