POST UTME JOSEPH AYO BABALOLA UNIVERSITY 2022 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A firm's demand function is given by Q = 100 - 2P, where Q is the quantity demanded and P is the price. If the firm wants to maximize its revenue, what price should it charge?
Question 2
In a just-in-time (JIT) inventory system, what is the primary goal of the warehouse manager?
Question 3
A company's Memorandum of Association is a document that outlines its _______ and powers
Question 4
A sole trader's business involves the sale of goods. If the sole trader's profit is ₦120,000 and the total sales are ₦500,000, what is the gross profit percentage?
Question 5
A company uses the transportation cost model to determine the optimal shipping route. The model is based on the following equation: TC = f(Q) + c * Q, where TC is the total cost, f(Q) is the fixed cost, c is the variable cost per unit, and Q is the quantity shipped. If the fixed cost is ₦500, the variable cost per unit is ₦10, and the quantity shipped is 100 units, what is the total cost?
Question 6
A firm exports 80% of its production to foreign markets. If the firm's total production is 10,000 units, how many units are exported?
Question 7
A firm's production function is given by Q = 2L^0.5H^0.5, where Q is output, L is labor, and H is capital. If the firm wants to increase output by 20% while keeping labor constant at 100 units, what percentage increase in capital is required?
Question 8
A company is considering two different production processes for manufacturing a product. Process A has a fixed cost of ₦100,000 and a variable cost of ₦50 per unit. Process B has a fixed cost of ₦150,000 and a variable cost of ₦30 per unit. If the company wants to produce 1,000 units, which process should it choose?
Question 9
A company's risk management policy involves the use of insurance to mitigate risks. If the company has a 10% chance of losing ₦100,000 and the insurance premium is 5% of the potential loss, what is the expected value of the insurance premium?
Question 10
A company has a warehouse with a capacity of 10,000 units. The current inventory level is 8,000 units. If the company receives a new shipment of 2,000 units, what is the new inventory level?
Question 11
A firm's cost function is given by C = 100 + 2L + 3H, where C is cost, L is labor, and H is capital. If the firm wants to minimize cost while producing 100 units of output, what is the optimal level of labor?
Question 12
The _______ of a company refers to the process of creating a new company by dividing an existing company into two or more separate entities
Question 13
A firm's cost function is given by the equation C = 2L + 3K, where C is cost, L is labor, and K is capital. If the firm increases labor from 4 units to 6 units, and capital from 2 units to 3 units, what is the new level of cost?
Question 14
A transport company has a fleet of 10 trucks, each with a capacity to carry 20 tons of goods. If the company receives an order for 200 tons of goods, how many trucks will be required to fulfill the order?
Question 15
A firm is considering exporting its product to a foreign country. The firm's export price is ₦500 per unit, while the foreign country's import price is ₦600 per unit. If the firm's transportation cost is ₦100 per unit, and the foreign country's tariff is ₦200 per unit, should the firm export the product?
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