POST UTME REDEEMERS UNIVERSITY 2021 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A sole trader's business is given by the equation: Revenue = 100x - 2x^2, where x is the number of units sold. If the sole trader sells 10 units, what is the profit?
A. ₦800
B. ₦900
C. ₦1000
D. ₦1100
Question 2
A consumer purchases a product online, but upon delivery, finds that it does not match the product description. What is the consumer's primary recourse?
A. Return the product and receive a full refund
B. Contact the seller and request a replacement
C. File a complaint with the consumer protection agency
D. Seek mediation from a third-party dispute resolution service
Question 3
A company has a warehouse with a capacity of 10,000 units. The company uses a last-in-first-out (LIFO) inventory system. If 5,000 units are sold in the first quarter and 3,000 units are sold in the second quarter, how many units are left in the warehouse?
A. 7,000
B. 8,000
C. 9,000
D. 10,000
Question 4
In a perfectly competitive market, the law of diminishing marginal utility applies to which of the following?
A. Firms
B. Households
C. Markets
D. Government
Question 5
A firm's production function is given by Q = 2L^0.5 + 3K^0.5. If the firm's current inputs are L = 4 and K = 9, what is the marginal product of labor?
A. 1
B. 2
C. 3
D. 4
Question 6
A company's insurance policy has a deductible of ₦5,000. If the company suffers a loss of ₦20,000, how much will it receive from the insurance company?
A. ₦15,000
B. ₦20,000
C. ₦25,000
D. ₦30,000
Question 7
A company's articles of association may provide for the appointment of a
A. Managing director
B. Auditor
C. Secretary
D. Director
Question 8
In a perfectly competitive market, the demand curve for a firm's product is its
A. marginal revenue curve
B. marginal cost curve
C. average revenue curve
D. average cost curve
Question 9
A consumer has a utility function given by U = 2x + 3y. If the consumer's budget constraint is 2x + 3y = 12, what is the consumer's optimal consumption bundle?
A. (2, 4)
B. (4, 2)
C. (6, 0)
D. (0, 6)
Question 10
A firm's supply function is given by P = 2Q + 10. If the firm's current output is Q = 5, what is the firm's current price?
A. 15
B. 20
C. 25
D. 30
Question 11
A firm's break-even point is the point at which its
A. total revenue equals its total fixed costs
B. total revenue equals its total variable costs
C. total revenue equals its total fixed and variable costs
D. total revenue equals its total contribution margin
Question 12
A company's marketing mix is given by the 4 Ps: Product, Price, Place, and Promotion. Which of the following is NOT one of the 4 Ps?
A. Product
B. Price
C. Place
D. Profit
Question 13
A company's balance sheet is given by Assets = ₦100,000, Liabilities = ₦50,000, and Equity = ₦50,000. What is the company's current ratio?
A. 2
B. 1
C. 0.5
D. 0.25
Question 14
A firm's production function is given by Q = 2L^0.5K^0.5, where Q is the quantity produced, L is labor, and K is capital. If the firm increases labor from 100 to 121, and capital from 100 to 121, what is the percentage change in output?
A. 10%
B. 20%
C. 30%
D. 40%
Question 15
A company uses a viral marketing campaign to promote its new product. What is the primary goal of this campaign?
A. To increase brand awareness
B. To generate buzz and excitement around the product
C. To drive sales and revenue
D. To collect customer feedback and data

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