POST UTME FUTO 2018 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company is considering two production methods for its new product: Method A, which requires an initial investment of ₦1.5 million and produces 10,000 units per month, and Method B, which requires an initial investment of ₦2 million and produces 15,000 units per month. If the company wants to produce at least 50,000 units per month and the cost of production is ₦500 per unit, which method should it choose?
A. Method A
B. Method B
C. Both methods
D. Neither method
Question 2
A company's cost function is given by C = 2L + 3K, where C is the total cost, L is the labor input, and K is the capital input. If the company increases its labor input from 10 units to 20 units, and its capital input from 5 units to 10 units, what is the new total cost?
A. 50
B. 60
C. 80
D. 100
Question 3
A company's financial statements are audited annually by an independent auditor. Which of the following is a primary purpose of the audit?
A. To ensure compliance with tax laws
B. To verify the accuracy of financial statements
C. To provide consulting services to management
D. To conduct a forensic investigation
Question 4
A consumer has a budget of ₦1000 and is faced with the following prices for two goods: good X costs ₦200 per unit, and good Y costs ₦300 per unit. If the consumer's indifference curves are such that the marginal rate of substitution is 2, how many units of good X will the consumer buy?
A. 2 units
B. 3 units
C. 4 units
D. 5 units
Question 5
A firm's revenue is given by R = 100P. If the price is 10, what is the revenue?
A. 1000
B. 2000
C. 3000
D. 4000
Question 6
The diagram below shows a
A. Titration setup
B. Distillation setup
C. Crystallization setup
D. Filtration setup
Question 7
A firm's production function is given by Q = 2L^0.5K^0.5. If the firm wants to produce 16 units of output, and the price of labor is ₦100 per unit, and the price of capital is ₦200 per unit, how much will it cost the firm to produce 16 units of output?
A. ₦1600
B. ₦3200
C. ₦6400
D. ₦12800
Question 8
A firm's demand curve is given by Qd = 100 - 2P. If the price is 5, what is the quantity demanded?
A. 20
B. 30
C. 40
D. 50
Question 9
A company's marketing strategy involves targeting a specific segment of the market. Which of the following is a characteristic of this approach?
A. Mass marketing
B. Segmented marketing
C. Niche marketing
D. Target marketing
Question 10
A firm's supply curve is given by Qs = 2P. If the price is 10, what is the quantity supplied?
A. 20
B. 30
C. 40
D. 50
Question 11
A company's revenue function is given by R = 100Q - 2Q^2, where R is the total revenue and Q is the quantity sold. If the company increases its price from ₦10 to ₦20, what is the new total revenue?
A. ₦1000
B. ₦2000
C. ₦3000
D. ₦4000
Question 12
A company's marketing strategy involves creating a brand identity that is
A. Unique and memorable
B. Similar to its competitors
C. Focused on price alone
D. Based on customer reviews
Question 13
A company's production costs are ₦500 per unit for the first 1,000 units and ₦300 per unit for units above 1,000. If the company produces 2,000 units, what is the total production cost?
A. ₦1,000,000
B. ₦1,050,000
C. ₦1,100,000
D. ₦1,150,000
Question 14
A firm's demand function is given by P = 100 - 2Q, where P is the price and Q is the quantity demanded. If the firm's marginal revenue function is given by MR = 200 - 4Q, what is the firm's optimal quantity?
A. 10
B. 20
C. 30
D. 40
Question 15
A firm's production function is given by the equation
A. ( Q = 2L + 3K )
B. ( Q = 2L^2 + 3K )
C. ( Q = 2L^2 - 3K )
D. ( Q = 2L^2 + 5K )

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