POST UTME BOWEN UNIVERSITY 2017 Commerce | Objective
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Question 1
A company's transport strategy involves the use of a logistics company to manage its supply chain. Which of the following is a benefit of using a logistics company?
Question 2
A bank's customer deposits ₦10,000 into their account, but the bank's system fails to update the account balance. The customer attempts to withdraw ₦5,000 from the account, but the bank's system still shows a balance of ₦0. What is the likely outcome?
Question 3
A company's revenue function is given by R(x) = 2x^2 + 5x - 3, where x is the number of units sold. If the company sells 5 units, what is the revenue?
Question 4
A firm produces two products, A and B. The production process requires 2 hours of labor and 1 hour of machine time for product A, and 3 hours of labor and 2 hours of machine time for product B. If the firm has 120 hours of labor and 80 hours of machine time available, how many units of product A and product B should the firm produce to maximize profit?
Question 5
A consumer protection agency is considering two different approaches to regulating a company that has been accused of unfair business practices. Approach A involves a fine of ₦100,000 and a requirement for the company to provide restitution to affected consumers. Approach B involves a fine of ₦500,000 and a requirement for the company to implement new business practices to prevent future unfair business practices. Which approach is more effective in protecting consumers?
Question 6
A marketing manager is considering two different advertising strategies for a new product. Strategy A involves a high level of social media advertising, while Strategy B involves a low level of social media advertising. If the company expects to sell 1000 units of the product at a price of ₦500 per unit, what is the optimal advertising strategy that maximizes profits?
Question 7
A consumer protection law requires that all goods sold must have a warranty period of at least 2 years. If a company sells a product with a warranty period of 1 year, what is the consequence?
Question 8
A company's revenue function is given by R(x) = 2x^2 + 100x, where x is the number of units sold. If the company sells 10 units, what is the marginal revenue?
Question 9
A company's warehouse is damaged in a fire, resulting in a loss of inventory worth ₦5 million. The company's insurance policy covers losses due to fire, but the policy has a deductible of ₦1 million. What is the company's net loss after deducting the deductible?
Question 10
A company's demand function is given by Q = 100 - 2P, where Q is the quantity demanded and P is the price. If the company wants to maximize its revenue, what price should it charge?
Question 11
A company has a warehouse with a capacity of 5000 units. If it receives a shipment of 3000 units, what is the remaining capacity?
Question 12
A firm is considering two investment projects. Project A has a 10% chance of generating 100,000 and a 90% chance of generating 0. Project B has a 20% chance of generating 80,000 and an 80% chance of generating 0. Which project has a higher expected value?
Question 13
A consumer's indifference curve is a graphical representation of the various combinations of two goods that the consumer is equally willing to give up in order to obtain one more unit of the other good. The indifference curve is typically upward-sloping because of the law of
Question 14
A firm is considering two investment projects. Project A has a 10% chance of generating 100,000 and a 90% chance of generating 0. Project B has a 20% chance of generating 80,000 and an 80% chance of generating 0. Which project has a higher expected value?
Question 15
In a perfectly competitive market, the supply curve is typically represented by the market's
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