POST UTME LEAD CITY UNIVERSITY 2019 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A consumer has a budget of ₦10,000 and wants to buy two goods, X and Y. The prices of the goods are ₦5,000 and ₦3,000, respectively. If the consumer spends all the budget, what is the maximum amount that can be spent on good X?
Question 2
A consumer has a budget of ₦10,000 and wants to buy two goods, X and Y. The prices of the goods are ₦5,000 and ₦3,000, respectively. If the consumer spends all the budget, what is the maximum amount that can be spent on good X?
Question 3
A company is considering a new marketing strategy that will increase its sales by 10%. However, the new strategy will also increase its costs by 15%. What will be the effect on the company's profit?
Question 4
A company is considering a new marketing strategy that will increase its sales by 20%. However, the new strategy will also increase its costs by 25%. What will be the effect on the company's profit?
Question 5
A firm has a warehouse with a capacity of 1000 units. The firm receives a shipment of 500 units of a commodity. The firm wants to store the commodity in the warehouse. What is the maximum number of units that can be stored in the warehouse?
Question 6
A firm produces two goods, A and B, using two inputs, Labour (L) and Capital (K). The production function for good A is given by ( Q_A = 2L^{0.5}K^{0.5} ), while that for good B is ( Q_B = 3L^{0.7}K^{0.3} ). If the firm has 100 units of Labour and 150 units of Capital, how many units of good A can it produce?
Question 7
A firm specializes in producing and exporting a particular commodity. The production function is given by Q = 100L^0.4K^0.6, where Q is the quantity produced, L is the labor input, and K is the capital input. If the firm wants to produce 200 units of the commodity, and the wage rate is ₦100 per hour, while the rental rate is ₦50 per unit of capital, what is the minimum cost of production?
Question 8
A company is considering two investment projects. Project X has a net present value (NPV) of ₦1,500,000 and a payback period of 5 years. Project Y has an NPV of ₦2,000,000 and a payback period of 4 years. Which project should the company choose?
Question 9
A company is considering a new marketing strategy that will increase its sales by 15%. However, the new strategy will also increase its costs by 20%. What will be the effect on the company's profit?
Question 10
A firm's warehousing and stock control system is most likely to be influenced by its
Question 11
A firm's revenue function is given by R(x) = 100x - 2x^2. If the firm produces 20 units of output, what is the marginal revenue?
Question 12
A company is considering expanding its operations to a new market. What is the primary factor the company should consider?
Question 13
A firm's introduction to commerce is most likely to be influenced by its
Question 14
A company's warehouse is designed to store 10,000 units of inventory. If the warehouse is currently 75% full, how many units of inventory can still be stored?
Question 15
A company is considering two different investment projects. Project A has a higher initial cost but generates higher returns over time. Project B has a lower initial cost but generates lower returns over time. Which project should the company choose?
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