POST UTME DELSU 2024 Commerce | Objective
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Question 1
A company has a budget of ₦1,000,000 to spend on advertising. If the cost of advertising on TV is ₦200,000 per minute and the cost of advertising on radio is ₦150,000 per minute, how many minutes of TV advertising can the company afford if it wants to spend at least 60% of its budget on TV advertising?
Question 2
A firm has a production function given by Q = 2L^0.5K^0.5. If the firm wants to produce 100 units of output, and the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, how much will the firm spend on labor and capital?
Question 3
A firm's revenue function is given by R(Q) = 10Q - 2Q^2. If the firm's current output level is Q = 8, what is the firm's current revenue?
Question 4
A consumer's budget constraint is given by P1Q1 + P2Q2 = 100. If the price of good 1 is ₦10 and the price of good 2 is ₦20, and the consumer spends ₦80 on good 1, how much does the consumer spend on good 2?
Question 5
A firm's demand function is given by Q = 100 - 2P. If the firm's current price is P = 20, what is the firm's current quantity demanded?
Question 6
In a warehouse with a capacity of 10,000 units, the inventory turnover ratio is 5 times per year. If the cost of goods sold is ₦1,200,000, what is the total value of inventory at the beginning of the year?
Question 7
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. Which of the following best describes this situation?
Question 8
A firm's revenue function is given by R(x) = 100x - 2x^2. If the firm's marginal revenue is 50, what is the value of x?
Question 9
A sole trader, Mr. A, has a business that generates an average monthly revenue of ₦500,000. His average monthly fixed expenses are ₦200,000, and his average monthly variable expenses are ₦150,000. If he wants to save ₦100,000 per month, what is the minimum monthly sales required?
Question 10
A warehouse manager is responsible for maintaining an accurate inventory of goods. If the inventory is not up-to-date, the company may experience stockouts or overstocking. Which of the following best describes this situation?
Question 11
A company's production process involves the use of specialized machinery. If the machinery breaks down, the company may experience a significant loss of productivity. Which of the following best describes this situation?
Question 12
A consumer has a budget of ₦1,000 and a preference for two goods, A and B. The prices of the goods are ₦200 and ₦300, respectively. If the consumer spends all of their budget on the two goods, what is the maximum amount of good B that the consumer can buy?
Question 13
In a perfectly competitive market, the supply curve is horizontal and the demand curve is downward-sloping. What is the equilibrium price and quantity in this market?
Question 14
In a perfectly competitive market, the law of supply states that as the price of a commodity increases, the quantity supplied will
Question 15
A company has two production units: Unit A and Unit B. Unit A produces 80% of the total output, while Unit B produces 20%. If Unit A's production cost is ₦120 per unit and Unit B's production cost is ₦180 per unit, what is the total production cost of 1,000 units?
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