POST UTME RSU 2018 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
In a perfectly competitive market, what is the relationship between the marginal revenue product of labor (MRP) and the marginal factor cost of labor (MFC)?
Question 2
A company is considering two different production methods for a new product. Method A requires an initial investment of ₦1,000,000 and produces 1,000 units per year, while Method B requires an initial investment of ₦500,000 and produces 500 units per year. If the company expects to sell each unit for ₦200, which method should it choose?
Question 3
A firm is considering two different production methods for a new product. Method A requires an initial investment of ₦1,000,000 and produces 1,000 units per year, while Method B requires an initial investment of ₦500,000 and produces 500 units per year. If the firm expects to sell each unit for ₦200, what is the minimum number of years the firm should operate before breaking even?
Question 4
A firm is considering two different advertising strategies: Strategy A, which costs ₦100,000 per year and reaches 10,000 potential customers, and Strategy B, which costs ₦50,000 per year and reaches 5,000 potential customers. If the firm expects to sell each unit for ₦200, which strategy should it choose?
Question 5
A company is considering exporting its product to a foreign market. If the company expects to sell each unit for ₦200 and the exchange rate is 1 USD = 400 NGN, what is the minimum price the company should charge in USD?
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