POST UTME UNIBEN 2023 Commerce | Objective

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Question 1
A company's production function is given by ( Q = 2L^2 + 5K ), where Q is the quantity produced and L and K are labor and capital, respectively. If the company uses 5 units of labor and 10 units of capital, what is the quantity produced?
A. 25 units
B. 50 units
C. 75 units
D. 100 units
Question 2
A company is considering two different marketing strategies for its new product. Which of the following is a key difference between the two strategies?
A. The first strategy targets a specific age group, while the second strategy targets a specific income level.
B. The first strategy uses social media advertising, while the second strategy uses print media.
C. The first strategy focuses on product features, while the second strategy focuses on customer benefits.
D. The first strategy targets a specific geographic location, while the second strategy targets a specific demographic group.
Question 3
A company is considering two different communication options for its customers. Which of the following is a key difference between the two options?
A. The first option is more personalized, while the second option is less personalized.
B. The first option is more interactive, while the second option is less interactive.
C. The first option is more cost-effective, while the second option is less cost-effective.
D. The first option is more reliable, while the second option is less reliable.
Question 4
In a production process, a firm uses a combination of labor and capital to produce a certain quantity of output. The production function is given by Q = 2L^0.5K^0.5, where Q is the quantity of output, L is the amount of labor, and K is the amount of capital. If the firm wants to produce 100 units of output, and the cost of labor is ₦50 per unit and the cost of capital is ₦100 per unit, what is the minimum cost of production?
A. ₦10,000
B. ₦12,000
C. ₦15,000
D. ₦18,000
Question 5
A sole trader has a business that generates an annual profit of ₦500,000. If the sole trader wants to save 20% of the profit for taxes, how much will be left for personal use?
A. ₦400,000
B. ₦450,000
C. ₦400,000
D. ₦450,000
Question 6
A company produces two products: A and B. Product A requires 2 hours of labor and 3 units of raw material to produce 1 unit. Product B requires 3 hours of labor and 2 units of raw material to produce 1 unit. If the company has 120 hours of labor and 180 units of raw material available, how many units of product A and product B can be produced?
A. (20, 30)
B. (30, 20)
C. (25, 25)
D. (35, 15)
Question 7
A firm has a production function Q = 2L^0.5K^0.5, where Q is the quantity of output, L is the amount of labor, and K is the amount of capital. If the firm wants to produce 100 units of output, and the cost of labor is ₦50 per unit and the cost of capital is ₦100 per unit, what is the optimal combination of labor and capital?
A. L = 100, K = 100
B. L = 50, K = 200
C. L = 200, K = 50
D. L = 100, K = 50
Question 8
A company has a warehouse with a capacity of 1000 units. The storage cost is ₦5 per unit. If the company wants to store 1200 units of inventory, what is the minimum total storage cost?
A. ₦6,000
B. ₦7,500
C. ₦9,000
D. ₦10,500
Question 9
A firm is considering exporting its products to a foreign market. Which of the following is a key factor to consider when deciding whether to export?
A. Market size and growth rate
B. Competitor analysis
C. Transportation costs
D. Tariff and tax regulations
Question 10
A company has two warehouses, A and B, with capacities of 1000 and 500 units, respectively. Warehouse A has a storage cost of ₦5 per unit, while Warehouse B has a storage cost of ₦10 per unit. If the company wants to store 1200 units of inventory, what is the minimum total storage cost?
A. ₦6,000
B. ₦7,500
C. ₦9,000
D. ₦10,500
Question 11
A company's inventory system uses the Economic Order Quantity (EOQ) model. If the company's demand rate is 100 units per month, the ordering cost is ₦50 per order, and the holding cost is ₦10 per unit per month, what is the optimal order quantity?
A. 100 units
B. 200 units
C. 300 units
D. 400 units
Question 12
A warehouse manager is responsible for maintaining inventory levels. Which of the following is a key benefit of using a just-in-time (JIT) inventory system?
A. Reduced inventory costs
B. Improved inventory turnover
C. Enhanced customer service
D. Increased inventory levels
Question 13
A company may be wound up by the court if it is just and equitable to do so. This is known as _______ winding up.
A. voluntary
B. compulsory
C. members' voluntary
D. creditors' voluntary
Question 14
A firm's cost function is given by ( C(x) = 2x^2 + 5x - 3 ). If the firm produces 10 units, what is the total cost?
A. ₦43
B. ₦53
C. ₦63
D. ₦73
Question 15
A sole trader's business is registered under which of the following?
A. Partnership
B. Company
C. Sole Proprietorship
D. Cooperative

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