POST UTME ESUT 2022 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A firm is considering the following two investment opportunities: Opportunity A has a 10% chance of earning a return of ₦1,000,000 and a 90% chance of earning a return of ₦0. Opportunity B has a 20% chance of earning a return of ₦500,000 and an 80% chance of earning a return of ₦0. Which opportunity has a higher expected return?
Question 2
A firm is considering the following two investment opportunities: Opportunity A has a 5% chance of earning a return of ₦500,000 and a 95% chance of earning a return of ₦0. Opportunity B has a 10% chance of earning a return of ₦250,000 and a 90% chance of earning a return of ₦0. Which opportunity has a higher expected return?
Question 3
A firm's production function is given by Q = 2L^0.5K^0.5, where Q is output, L is labor, and K is capital. If the firm increases labor from 4 units to 9 units, and capital from 9 units to 16 units, what is the percentage change in output?
Question 4
A company has a warehouse with a capacity of 1000 units. The company's demand function is given by D(p) = 2000 - 5p. If the company wants to maximize its profit, what is the optimal price?
Question 5
The Consumer Protection Act of 1999 provides for the establishment of the National Consumer Protection Agency (NCPA). Which of the following is a primary function of the NCPA?
Question 6
A company is considering two different production processes for its product. Process A requires an initial investment of ₦1,500,000 and has a variable cost of ₦200 per unit. Process B requires an initial investment of ₦2,000,000 and has a variable cost of ₦150 per unit. If the company produces 10,000 units, which process will result in lower total costs?
Question 7
A company is considering two different transportation options for its products. Option A involves a fixed cost of ₦500,000 and a variable cost of ₦200 per unit transported. Option B has a fixed cost of ₦300,000 and a variable cost of ₦300 per unit transported. If the company needs to transport 5,000 units, which option is more cost-effective?
Question 8
A firm's revenue function is given by R = 100Q - 2Q^2, where R is revenue and Q is quantity sold. If the firm sells 10 units, what is the marginal revenue?
Question 9
A company has a fire insurance policy with a premium of ₦50,000. The company pays a claim of ₦200,000. What is the benefit ratio?
Question 10
A warehouse has a storage capacity of 10,000 units. The warehouse is currently 70% full, with 7,000 units stored. If 1,500 new units are received, what is the new percentage of the warehouse that is full?
Question 11
A company has a policy of paying its employees a 10% bonus on their annual salaries. If an employee's salary is ₦500,000, what is the total amount the employee will receive at the end of the year?
Question 12
A firm's cost function is given by C = 50 + 10Q, where C is cost and Q is quantity produced. If the firm produces 5 units, what is the total cost?
Question 13
A company has a budget of ₦1,500,000 to spend on advertising. If the cost of advertising on radio is ₦500,000 and the cost of advertising on television is ₦750,000, what is the maximum amount the company can spend on advertising on the internet?
Question 14
A company has a warehouse with a storage capacity of 10,000 units. The warehouse is currently 70% full, with 7,000 units stored. If 1,500 new units are received, what is the new percentage of the warehouse that is full?
Question 15
A company has a market share of 30% in the industry. If the industry grows by 10% in a year, what will be the company's market share in the next year?
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.
Unlock Full Access
Available for Android & Windows