POST UTME UNILAG 2020 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A firm is considering launching a new product. The firm has estimated the following costs and revenues for the product: Fixed costs = ₦50,000, Variable costs = ₦20,000, Revenue = ₦80,000. What is the firm's break-even point?
A. ₦30,000
B. ₦40,000
C. ₦50,000
D. ₦60,000
Question 2
A company has a production function Q = 2L^0.5K^0.5, where Q is output, L is labor, and K is capital. If labor increases from 100 to 121 and capital remains constant at 16, what is the percentage change in output?
A. 10%
B. 20%
C. 30%
D. 40%
Question 3
A company is considering investing in a new project. The company has identified several options, but it is unsure which one to choose. Which of the following factors should the company consider when deciding which option to choose?
A. The company should consider the project's potential return on investment and the level of risk involved.
B. The company should consider the project's environmental impact and the level of social responsibility required.
C. The company should consider the project's level of specialization and the level of expertise required.
D. The company should consider the project's availability of raw materials and labor and the level of logistics required.
Question 4
A firm is considering launching a new product. The firm has identified several potential marketing strategies, but it is unsure which one to choose. Which of the following factors should the firm consider when deciding which strategy to choose?
A. The firm should consider the target market and the level of competition.
B. The firm should consider the product's unique selling proposition and the level of advertising required.
C. The firm should consider the product's price and the level of distribution required.
D. The firm should consider the product's quality and the level of customer service required.
Question 5
A company has a 10% dividend yield on its shares. If the current market price of the shares is ₦100, what is the annual dividend payment per share?
A. ₦10
B. ₦12.50
C. ₦15.00
D. ₦17.50
Question 6
A firm is considering launching a new product. The firm has estimated the following costs and revenues for the product: Fixed costs = ₦50,000, Variable costs = ₦20,000, Revenue = ₦80,000. What is the firm's profit?
A. ₦10,000
B. ₦30,000
C. ₦50,000
D. ₦70,000
Question 7
The Central Bank of Nigeria (CBN) uses the following monetary policy tools to control inflation: interest rates, reserve requirements, open market operations, and quantitative easing. Which of the following is NOT a monetary policy tool used by the CBN?
A. Fiscal policy
B. Monetary policy
C. Supply-side policy
D. Demand-side policy
Question 8
A company is considering forming a partnership with another company. The company has identified several potential partners, but it is unsure which one to choose. Which of the following factors should the company consider when deciding which partner to choose?
A. The company should consider the partner's financial resources and the level of commitment required.
B. The company should consider the partner's expertise and the level of risk involved.
C. The company should consider the partner's reputation and the level of trust required.
D. The company should consider the partner's location and the level of logistics required.
Question 9
A company has a revenue function R = 100Q - 2Q^2, where R is revenue and Q is output. If output increases from 10 to 15, what is the change in revenue?
A. ₦500
B. ₦1000
C. ₦1500
D. ₦2000
Question 10
A firm has a production function given by Q = 2L^2 + 3K^2, where Q is the quantity produced, L is the labor input, and K is the capital input. If the firm's labor input is 5 units and its capital input is 3 units, what is the marginal product of labor?
A. 20
B. 30
C. 40
D. 50
Question 11
In a perfectly competitive market, the supply curve is horizontal and the demand curve is downward-sloping. If the market price falls from ₦100 to ₦80, what is the effect on the quantity supplied?
A. Increase
B. Decrease
C. No change
D. No effect
Question 12
In a perfectly competitive market, what is the relationship between the marginal revenue product (MRP) and the marginal factor cost (MFC)?
A. MRP > MFC
B. MRP < MFC
C. MRP = MFC
D. MRP and MFC are unrelated
Question 13
A company has a sole proprietorship business structure. The owner, John, has invested ₦100,000 in the business. The company has a profit of ₦50,000. What is John's net income?
A. ₦50,000
B. ₦75,000
C. ₦100,000
D. ₦125,000
Question 14
A company has a sole proprietorship business structure. The owner, John, has invested ₦100,000 in the business. The company has a profit of ₦50,000. What is John's net income?
A. ₦50,000
B. ₦75,000
C. ₦100,000
D. ₦125,000
Question 15
A firm stores its inventory in a warehouse with a capacity of 10,000 units. If the firm's inventory level is currently at 8,000 units, what is the percentage of the warehouse that is currently occupied?
A. 80%
B. 85%
C. 90%
D. 95%

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