POST UTME SUMMIT UNIVERSITY 2025 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A consumer protection agency has received a complaint from a customer who purchased a defective product. The product has a warranty period of 2 years. If the customer purchased the product 1 year ago, what is the maximum amount the manufacturer can be liable for?
Question 2
A company's cost function is given by C = 100L + 200K, where C is cost, L is labor, and K is capital. If labor increases by 10% and capital remains constant, what is the new cost?
Question 3
A consumer purchases a product with a price of ₦10,000. If the product is subject to a 5% sales tax, what is the total amount paid by the consumer?
Question 4
A company's production function is given by the equation Q = 2L^2 + 5K, where Q is output, L is labor, and K is capital. If the company wants to produce 100 units of output, how many units of labor are required if capital is fixed at 10 units?
Question 5
A company is considering the introduction of a new marketing strategy. The company has a current market share of 20% and expects to increase its market share by 5% with the new strategy. What is the company's expected market share after implementing the new strategy?
Question 6
A bank's liquidity ratio is calculated as the ratio of its liquid assets to its total deposits. If a bank has liquid assets worth ₦120 million and total deposits of ₦180 million, what is its liquidity ratio?
Question 7
A sole trader has a business income of ₦1.5 million and a business expense of ₦750,000. What is the sole trader's business profit?
Question 8
A company is considering the introduction of a new product line. The product has a high fixed cost of ₦10 million and a variable cost of ₦5,000 per unit. The selling price of the product is ₦15,000 per unit. If the company expects to sell 10,000 units, what is the minimum revenue required to break even?
Question 9
A company's profit function is given by P = R - C, where P is profit, R is revenue, and C is cost. If revenue increases by 10% and cost remains constant, what is the new profit?
Question 10
A company has two warehouses, A and B, with capacities of 1000 and 500 units, respectively. Warehouse A has 800 units of stock, while Warehouse B has 200 units. If the company wants to transfer 300 units from Warehouse A to Warehouse B, what will be the new stock levels in each warehouse?
Question 11
A company's marketing strategy involves a 20% discount on all products during a promotional period. If a product originally costs ₦1,500, what is the selling price after the discount?
Question 12
A firm's revenue function is given by R = 100Q - 2Q^2, where R is revenue and Q is quantity sold. If the quantity sold increases by 20%, what is the new revenue?
Question 13
In a production process, the marginal cost (MC) of producing the 100th unit is ₦250. If the average cost (AC) of producing the first 100 units is ₦200, and the fixed cost is ₦10,000, what is the total cost of producing the first 100 units?
Question 14
A company's production function is given by Q = 100L^0.5K^0.5, where Q is output, L is labor, and K is capital. If labor increases by 20% and capital remains constant, what is the percentage change in output?
Question 15
A company's revenue is ₦1,000,000, and its cost of goods sold is ₦600,000. If the company's tax rate is 25%, what is the net income?
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