POST UTME EKSU 2024 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A firm is considering exporting its products to a foreign market. The firm has a fixed cost of ₦500,000 and a variable cost of ₦200 per unit. The selling price in the foreign market is ₦300 per unit. What is the minimum number of units the firm must sell to break even?
A. 1,000 units
B. 2,000 units
C. 3,000 units
D. 4,000 units
Question 2
A firm's warehouse has a capacity of 10,000 units. If the current stock level is 8,000 units and the firm receives a new shipment of 2,000 units, what is the new stock level?
A. 6,000
B. 8,000
C. 10,000
D. 12,000
Question 3
The diagram below represents a simple graph showing the relationship between two variables. What is the slope of the line?
A. 2
B. 3
C. 4
D. 5
Question 4
A firm has the following cost function: C(q) = 100 + 10q + 0.5q^2. Determine the average cost function.
A. AC(q) = 100 + 10q + 0.5q^2
B. AC(q) = 100 + 10q
C. AC(q) = 100 + 0.5q^2
D. AC(q) = 100
Question 5
A company's Memorandum and Articles of Association are filed with the _______________ in Nigeria.
A. Corporate Affairs Commission (CAC)
B. Federal Inland Revenue Service (FIRS)
C. National Industrial Court (NIC)
D. National Assembly
Question 6
A firm has the following revenue function: R(q) = 100q - 2q^2. Determine the marginal revenue function.
A. MR(q) = 100 - 4q
B. MR(q) = 100 - 2q
C. MR(q) = 100 + 2q
D. MR(q) = 100
Question 7
In a just-in-time (JIT) inventory system, what is the primary goal of the warehouse manager?
A. To minimize inventory costs
B. To maximize storage capacity
C. To reduce lead times
D. To increase inventory turnover
Question 8
A company's sole trader has a business income of ₦1,500,000 and business expenses of ₦800,000. What is the profit before tax?
A. ₦700,000
B. ₦1,000,000
C. ₦1,200,000
D. ₦1,500,000
Question 9
A consumer protection agency receives a complaint about a company's unfair business practices. The agency investigates and finds that the company has engaged in deceptive advertising. What is the primary remedy that the agency can impose on the company?
A. Fines and penalties
B. Restitution to affected consumers
C. Cease and desist order
D. All of the above
Question 10
Determine the value of x in the equation ( 2x + 5 = 11 ) using the method of substitution.
A. 6
B. 7
C. 8
D. 9
Question 11
A firm has a warehouse with a capacity of 10,000 units. The firm receives an order for 5,000 units. What is the minimum number of bins required to store the order?
A. 2 bins
B. 3 bins
C. 4 bins
D. 5 bins
Question 12
A company's insurance policy has a deductible of ₦50,000 and an excess of ₦20,000. If the total claim is ₦200,000, what is the amount paid by the insurance company?
A. ₦130,000
B. ₦140,000
C. ₦150,000
D. ₦160,000
Question 13
Solve the inequality ( 2x - 5 > 3 ) using the method of addition.
A. x > 4
B. x < 4
C. x > 2
D. x < 2
Question 14
A company has the following production function: Q = 10L^0.5K^0.5. Determine the marginal product of labor.
A. MP_L = 5L^{-0.5}K^{0.5}
B. MP_L = 5L^{0.5}K^{-0.5}
C. MP_L = 10L^{-0.5}K^{0.5}
D. MP_L = 10L^{0.5}K^{-0.5}
Question 15
A company has a warehouse with a capacity of 10,000 units. The company receives an order for 8,000 units and has a lead time of 5 days. What is the safety stock level?
A. 1,000 units
B. 2,000 units
C. 3,000 units
D. 4,000 units

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