POST UTME RSU 2023 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A business has a profit of ₦200,000 and a tax rate of 20%. If the business pays ₦40,000 in taxes, what is the amount of the profit after taxes?
Question 2
A firm's production function is given by Q = 2L^0.5K^0.5, where Q is the quantity produced, L is the labor input, and K is the capital input. If the firm increases its labor input from 16 to 25, and its capital input from 9 to 16, what is the percentage change in the quantity produced?
Question 3
A company is considering entering a new market. If the market is characterized by a high level of product differentiation, what is the likely outcome for the company's market share?
Question 4
In a sole trader business, what is the primary advantage of using a sole proprietorship structure?
Question 5
A sole trader's business has a profit of ₦50,000. If the business is taxed at a rate of 20%, what is the amount of tax paid?
Question 6
A consumer has a utility function given by U = 2x + 3y, where x and y are the quantities of two goods consumed. If the consumer's income is ₦1000 and the prices of the goods are ₦200 and ₦300 respectively, how much of good B should they consume if they want to maximize their utility?
Question 7
A sole trader, Mr. A, has a business that generates an average monthly revenue of ₦1,500,000. His monthly expenses include rent (₦200,000), utilities (₦50,000), and equipment maintenance (₦30,000). If he wants to save 20% of his revenue, how much will he save in a year?
Question 8
A company's marketing manager is responsible for creating a marketing plan that includes a mix of promotional activities. What type of marketing mix is the manager using?
Question 9
A company is considering the introduction of a new product line. The production process involves the use of a specialized machine that can produce 500 units per hour. However, the machine requires a 2-hour setup time and a 30-minute breakdown time for maintenance. If the production team works for 8 hours a day, 5 days a week, what is the maximum number of units that can be produced in a week?
Question 10
A company has a policy of paying its employees a 10% bonus on their annual salary. If an employee earns ₦100,000 per annum, what is the amount of the bonus?
Question 11
A company is considering the introduction of a new product line. The production process involves the use of a specialized machine that can produce 500 units per hour. However, the machine requires a 2-hour setup time and a 30-minute breakdown time for maintenance. If the production team works for 8 hours a day, 5 days a week, what is the maximum number of units that can be produced in a week?
Question 12
A firm is considering adopting a new production technology. If the new technology has a higher fixed cost but a lower variable cost, what is the likely outcome for the firm's average cost?
Question 13
A firm specializes in producing a single product, which it sells in a competitive market. The firm's production function is given by Q = 100L^(1/2)K^(1/2), where Q is the quantity produced, L is the labor input, and K is the capital input. If the firm's labor and capital inputs are 16 and 25, respectively, what is the quantity produced?
Question 14
A firm's demand function is given by Q = 100 - 2P, where Q is the quantity demanded and P is the price. If the firm increases its price from ₦50 to ₦60, what is the percentage change in quantity demanded?
Question 15
A company's insurance policy covers against losses due to fire, theft, and natural disasters. What type of insurance policy is the company holding?
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