POST UTME UNIBEN 2023 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A firm is considering two different production processes: Process A, which involves a 10% increase in labor hours, and Process B, which involves a 20% increase in capital investment. If the firm's current labor hours are 100 hours and its current capital investment is ₦100,000, what is the total cost of Process B?
Question 2
A company's production function is given by Q = 100L^0.5K^0.5, where Q is the quantity produced, L is the number of labor hours, and K is the capital invested. If the company wants to increase its production by 20% while keeping labor hours constant, what percentage increase in capital investment is required?
Question 3
A company produces two products: A and B. Product A requires 2 hours of labor and 3 units of raw material to produce 1 unit. Product B requires 3 hours of labor and 2 units of raw material to produce 1 unit. If the company has 120 hours of labor and 180 units of raw material available, how many units of product A and product B can be produced?
Question 4
A warehouse manager is responsible for maintaining inventory levels. Which of the following is a key benefit of using a just-in-time (JIT) inventory system?
Question 5
A company specializes in producing high-quality leather goods. It has a warehouse with a capacity of 10,000 units. The company receives an order for 8,000 units of a new product. If the warehouse is currently 70% full, what is the maximum number of units the company can produce and still meet the order?
Question 6
A sole trader's business is registered under which of the following?
Question 7
In a perfectly competitive market, the supply curve is represented by the equation ( Q = 100 + 2P ). If the market price is ₦200, what is the quantity supplied?
Question 8
In a production process, a firm uses a combination of labor and capital to produce a certain quantity of output. The production function is given by Q = 2L^0.5K^0.5, where Q is the quantity of output, L is the amount of labor, and K is the amount of capital. If the firm wants to produce 100 units of output, and the cost of labor is ₦50 per unit and the cost of capital is ₦100 per unit, what is the minimum cost of production?
Question 9
A company's revenue function is given by R(x) = 100x - 2x^2, where x is the number of units sold. If the company wants to maximize its revenue, what is the optimal number of units to sell?
Question 10
A company's marketing strategy involves a 20% discount on all products for the first 100 customers. If the original price of a product is ₦1,500, what is the price after the discount for the 101st customer?
Question 11
A company is considering two different transportation options for its goods. Which of the following is a key difference between the two options?
Question 12
A company is considering investing in a new transportation system. Which of the following is a key factor to consider when deciding whether to invest?
Question 13
A firm wants to advertise its product on the radio. The cost of advertising is ₦50,000 per minute. If the firm wants to advertise for 10 minutes, what is the total cost of the advertisement?
Question 14
A company's production function is given by ( Q = 2L^2 + 5K ), where Q is the quantity produced and L and K are labor and capital, respectively. If the company uses 5 units of labor and 10 units of capital, what is the quantity produced?
Question 15
A company has a policy of paying its employees a bonus of 10% of their salary if they meet their sales targets. If an employee's salary is ₦100,000 and they meet their sales targets, how much bonus will they receive?
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