POST UTME CHRISTOPHER UNIVERSITY 2020 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
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 wants to increase its output by 20% while keeping labor input constant, what percentage increase in capital input is required?
Question 2
A firm's revenue function is given by R = 2Q^2. If the firm's output is 3, calculate the total revenue.
Question 3
A bank's reserve requirement is the minimum percentage of deposits that must be held in reserve. What is the name of the ratio that represents the ratio of reserves to deposits?
Question 4
A marketing strategy that involves creating a unique selling proposition (USP) to differentiate a product from its competitors is known as?
Question 5
A company has two warehouses, A and B, with capacities of 1000 and 500 units respectively. Warehouse A has 800 units of stock, while Warehouse B has 200 units. If the company receives an order for 1200 units, which warehouse should it use to fulfill the order?
Question 6
A firm's cost function is given by C = 2L + 3K. If the firm's labor and capital inputs are 2 and 4 respectively, calculate the total cost.
Question 7
A producer's production function is given by Q = 2L^0.5K^0.5. If the producer's labor and capital inputs are 4 and 9 respectively, calculate the output.
Question 8
A bank's primary function is to act as a
Question 9
A company's articles of association may be amended to increase the authorized capital. However, this requires the approval of the shareholders. What is the name of this process?
Question 10
A business has two types of insurance policies: A and B. Policy A has a premium of ₦1000 and a deductible of ₦500. Policy B has a premium of ₦800 and a deductible of ₦200. If the business incurs a loss of ₦1200, which policy should it choose?
Question 11
A company's sole trader is considering the purchase of a new warehouse. The warehouse costs ₦5 million and has a 5-year lifespan. The company expects to use the warehouse for 3 years and then sell it for ₦1.5 million. The company's cost of capital is 10% per annum. Calculate the present value of the warehouse using the net present value (NPV) method.
Question 12
A company exports 500 units of goods to a foreign country. The cost of transportation is ₦200 per unit, and the company earns a profit of ₦300 per unit. If the exchange rate is 1 USD = 500 NGN, what is the total profit in USD?
Question 13
A company's marketing strategy involves a 20% increase in advertising expenditure. If the initial advertising expenditure is ₦1.2 million, what is the new advertising expenditure?
Question 14
A sole trader has a business that specializes in the production of textiles. The business has a fixed cost of ₦100,000 and a variable cost of ₦50 per unit. If the business produces 1000 units, what is the total cost?
Question 15
A sole trader's business is considered a separate legal entity from its owner. However, in the event of a lawsuit, the owner's personal assets may be at risk. What is the name of this legal concept?
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