POST UTME UNIOSUN 2022 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A firm is considering two different investment options: Option A, which involves investing 10,000 in a project with a 10% return, and Option B, which involves investing 20,000 in a project with a 5% return. If the firm has a risk tolerance of 8%, what is the expected return for Option A?
Question 2
In a perfectly competitive market, the supply curve is horizontal and the demand curve is downward-sloping. If the market price is 10, and the marginal cost is 8, what is the profit per unit for a firm in this market?
Question 3
A consumer protection law requires that all products sold in a country must meet certain safety standards. This is an example of:
Question 4
A firm is considering entering into a contract with a supplier. The contract specifies that the supplier will deliver goods within 30 days of receipt of the purchase order. What type of contract is this?
Question 5
A firm's revenue function is given by R(x) = 100x - 2x^2. If the firm's marginal revenue function is MR(x) = 100 - 4x, find the value of x that maximizes revenue.
Question 6
A firm is considering implementing a new production planning system. The system will use a combination of machine learning algorithms and data analytics to optimize production processes. What is the primary advantage of using machine learning algorithms?
Question 7
A firm is considering outsourcing its logistics operations to a third-party logistics provider. The firm's current logistics costs are ₦1,500,000 per month. The third-party logistics provider has quoted a price of ₦1,200,000 per month. What is the potential cost savings for the firm?
Question 8
A company is considering two different market research strategies: Strategy A, which involves conducting a survey of 100 customers, and Strategy B, which involves conducting a focus group with 20 customers. If the cost of conducting a survey is 500 and the cost of conducting a focus group is 1,000, what is the total cost for Strategy A?
Question 9
A firm's demand function is given by Q = 100 - 2P. If the firm's production cost is C(P) = 50 + 2P, what is the profit-maximizing price?
Question 10
A consumer purchases a product for ₦3,000. The product has a warranty period of 4 years. What is the present value of the warranty period?
Question 11
A bank's reserve requirement is 10%. If the bank has ₦100,000 in deposits, how much must it keep in reserve?
Question 12
A company transports goods from Lagos to Abuja using a combination of road and rail. The cost of transporting 1 ton of goods by road is ₦1500, while the cost of transporting 1 ton of goods by rail is ₦1200. If the company transports 500 tons of goods, what is the total cost of transportation?
Question 13
In a perfectly competitive market, the law of supply states that as the price of a commodity increases, the quantity supplied will
Question 14
A consumer purchases a product for ₦1,000. The product has a warranty period of 2 years. What is the present value of the warranty period?
Question 15
A company specializes in producing and selling a unique brand of chocolates. The production process involves mixing cocoa powder, sugar, and milk to create a smooth paste. The company uses a just-in-time inventory system to manage its stock levels. What is the primary advantage of using a just-in-time inventory system?
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