POST UTME IGBINEDION UNIVERSITY 2022 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A firm's production function is given by Q = 100K^(1/2)L^(1/2), where Q is output, K is capital, and L is labor. If the firm's capital is increased by 20% and labor is increased by 15%, what is the new production level?
Question 2
A bank's balance sheet is given by Assets = Liabilities + Equity. If the bank's current assets are ₦100 million and its current liabilities are ₦80 million, what is the bank's equity?
Question 3
A company is considering two different marketing strategies: one that targets a niche market and another that targets a broader market. What is the primary advantage of targeting a niche market?
Question 4
A firm's production function is given by Q = 2L^0.5 + 3K^0.5. If the firm's current input levels are L = 4 and K = 9, what is the total product of labor?
Question 5
A company's foreign trade involves the importation of raw materials from a foreign country. If the company uses a letter of credit (L/C) to finance the importation, what type of risk is the company most likely to be exposed to?
Question 6
A firm's production function is given by Q = 2L^0.5 + 3K^0.5. If the firm's current input levels are L = 4 and K = 9, what is the marginal product of labor?
Question 7
A bank's balance sheet shows a cash balance of ₦500 million, a loan portfolio of ₦2 billion, and a deposit account of ₦3 billion. If the bank's reserve requirement is 10%, what is the minimum amount of cash the bank must hold?
Question 8
A company uses the weighted average cost method to value its inventory. If the company has 1,000 units of inventory with a cost of ₦50 per unit, and 500 units of inventory with a cost of ₦75 per unit, what is the total value of the inventory?
Question 9
A firm has a probability of 0.6 that a customer will purchase a product. If the firm sells 1000 units of the product, what is the expected number of units sold?
Question 10
A consumer has a utility function given by U = 2A + 3B, where A and B are the quantities of two goods. The prices of the goods are P_A = 5 and P_B = 10. If the consumer's income is 100, what is the optimal consumption bundle?
Question 11
A company has a warehouse with a capacity of 10,000 square meters. If the company receives a shipment of goods that requires 5,000 square meters of storage space, what is the percentage of the warehouse capacity that is utilized?
Question 12
A company is considering implementing a just-in-time (JIT) inventory system. What is one of the primary benefits of JIT?
Question 13
A consumer has a budget constraint of 100 and a preference for two goods, A and B. The prices of the goods are P_A = 5 and P_B = 10. If the consumer's utility function is given by U = 2A + 3B, what is the optimal consumption bundle?
Question 14
A bank has a reserve requirement of 10% and a cash reserve of ₦100,000. If the bank wants to increase its lending capacity, what is the maximum amount it can lend?
Question 15
A company's risk management strategy involves diversification of its investments across various asset classes. If the company has a portfolio of stocks, bonds, and real estate, and the returns on these assets are not perfectly correlated, what type of risk is the company most likely to be exposed to?
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