POST UTME WELLSPRING UNIVERSITY 2023 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
Determine the value of x in the equation ( log_{10} (x^2) = 4 ).
Question 2
A company is considering two different transportation modes to move its products from the factory to the warehouse. Mode A involves hiring a truck for a one-time delivery, while Mode B involves hiring a truck for a weekly delivery. If the cost of hiring a truck for a one-time delivery is ₦15,000, and the cost of hiring a truck for a weekly delivery is ₦10,000 per week, what is the minimum number of weeks the company must operate to make Mode B more cost-effective?
Question 3
A company has two production plants, A and B. Plant A produces 100 units of a product per hour, while plant B produces 150 units per hour. If the company wants to produce a total of 500 units per hour, how many hours will it take to produce this quantity?
Question 4
A firm's cost of production can be minimized when the price elasticity of supply is
Question 5
A bank's balance sheet is given below. What is the bank's liquidity ratio?
Question 6
A firm imports goods worth ₦1,500,000. If the government imposes a 10% duty on the imported goods, what is the amount of duty paid?
Question 7
A firm specializes in producing a single product. If the firm's production function is given by Q = 2L^0.5, where Q is the quantity produced and L is the labor input, and the wage rate is ₦100 per hour, what is the marginal product of labor?
Question 8
A company's warehousing policy involves using a just-in-time inventory management system. What is the primary benefit of using a just-in-time inventory management system?
Question 9
A bank has a reserve requirement of 10% and a cash reserve of ₦100,000. If the bank wants to increase its cash reserve by 20%, what will be the new cash reserve?
Question 10
A warehouse manager is responsible for ensuring that inventory levels are accurate and up-to-date. If a warehouse has a total inventory value of ₦500 million and a shrinkage rate of 2%, what is the total value of inventory lost due to shrinkage?
Question 11
In a perfectly competitive market, the supply curve is downward sloping because
Question 12
A firm's revenue is maximized when the price elasticity of demand is
Question 13
A company is considering exporting its products to a foreign market. The company has a fixed cost of ₦100,000 and a variable cost of ₦50 per unit. If the company expects to sell 1,000 units at a price of ₦200 per unit, what is the minimum price the company must charge to break even?
Question 14
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 ₦500, how much will a customer pay for the product if they are the 101st customer?
Question 15
A company has a warehouse with a capacity of 10,000 units. If the company wants to store 8,000 units of a product, what is the storage capacity utilization rate?
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