POST UTME UNN 2021 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A firm's marketing strategy involves a 10% discount on all products. If a product originally costs ₦500, what is the new price after the discount?
Question 2
A company uses the marketing mix (4 Ps) to develop its marketing strategy. Which of the following is a component of the marketing mix?
Question 3
A firm's production function is given by Q = 2L^0.4K^0.3, where Q is output, L is labor, and K is capital. If the firm hires 100 units of labor and 200 units of capital, what is the marginal product of labor?
Question 4
A company has the following production function: Q = 2L^0.4K^0.3, where Q is output, L is labor, and K is capital. If the company hires 100 units of labor and 200 units of capital, what is the total product?
Question 5
A company has a profit of ₦100,000 and an expense of ₦50,000. What is the company's net profit?
Question 6
A consumer has a budget of ₦5000 and a preference for two goods, A and B. The prices of the goods are ₦2000 and ₦3000, respectively. If the consumer spends all of their budget, what is the quantity of good B consumed?
Question 7
A firm is considering investing in a new production technology that will increase its output by 20% but also increase its costs by 15%. What is the minimum increase in revenue required for the firm to break even?
Question 8
A company's marketing strategy involves creating a new product line to appeal to a younger demographic. What is the name of this marketing strategy?
Question 9
A company is considering two different insurance policies to cover its business operations. Policy A has a premium of ₦1,500 and a deductible of ₦5,000. Policy B has a premium of ₦2,000 and a deductible of ₦3,000. If the company expects to incur an average loss of ₦10,000 per year, which policy should it choose?
Question 10
A consumer is considering purchasing a product with a price of ₦500 and a discount of 10%. What is the final price of the product?
Question 11
A consumer protection law requires that all advertisements must be truthful and not misleading. What is the name of this principle?
Question 12
A bank's interest rate is 12% per annum. If a customer deposits ₦100,000 for 2 years, how much interest will the customer earn?
Question 13
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's labor and capital inputs are 100 units and 400 units, respectively, what is the quantity produced?
Question 14
A firm specializes in producing a single product, and its production function is given by Q = 100L^0.5K^0.5, 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 100 units and 400 units, respectively, what is the quantity produced?
Question 15
A firm specializes in producing a single product, and its production function is given by Q = 100L^0.5K^0.5, 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 100 units and 400 units, respectively, what is the quantity produced?
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