POST UTME UNILORIN 2020 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
In a production function, the marginal product of labor (MPL) is given by the derivative of the production function with respect to labor. If the production function is MPL = 2L^2 + 3L + 1, find the value of L that maximizes MPL.
A. 1
B. 2
C. 3
D. 4
Question 2
A company's production process involves the transformation of raw materials into finished goods. Which stage of production involves the creation of a new product from raw materials?
A. Manufacturing
B. Assembly
C. Packaging
D. Quality control
Question 3
A company's financial statements show a net profit of ₦200,000, a turnover of ₦1,500,000, and a gross profit of ₦800,000. What is the net profit margin?
A. 13.33%
B. 16.67%
C. 20%
D. 25%
Question 4
A company has a policy of paying its employees a 10% bonus on their annual salaries. If an employee's salary is ₦1,500,000, what is the total amount the employee will receive at the end of the year, including the bonus?
A. ₦1,650,000
B. ₦1,650,000
C. ₦1,650,000
D. ₦1,650,000
Question 5
A sole trader has a business income of ₦500,000 and a business expense of ₦200,000. What is the business profit?
A. ₦300,000
B. ₦400,000
C. ₦500,000
D. ₦600,000
Question 6
A company has two production plants, A and B. Plant A produces 100 units of a product per day, while plant B produces 150 units per day. If the company wants to produce a total of 250 units per day, and the cost of producing one unit in plant A is ₦100, while the cost of producing one unit in plant B is ₦120, what is the optimal allocation of production between the two plants?
A. Plant A should produce 50 units and plant B should produce 200 units.
B. Plant A should produce 100 units and plant B should produce 150 units.
C. Plant A should produce 200 units and plant B should produce 50 units.
D. Plant A should produce 150 units and plant B should produce 100 units.
Question 7
A company exports goods to a foreign country. The company uses the following exchange rates: 1 USD = 500 Naira. What is the value of 100 USD in Naira?
A. ₦50,000
B. ₦50,500
C. ₦51,000
D. ₦51,500
Question 8
A firm has a 20% markup on its products. If a product costs ₦1,200, what is the selling price?
A. ₦1,440
B. ₦1,440
C. ₦1,440
D. ₦1,440
Question 9
A firm has a 20% markup on its products. If a product costs ₦1,200, what is the selling price?
A. ₦1,440
B. ₦1,440
C. ₦1,440
D. ₦1,440
Question 10
A firm's production function is given by the equation Q = 2L^0.5K^0.5. If the firm's output is 16 units and the number of workers is 4, how many units of capital are required?
A. 2
B. 4
C. 8
D. 16
Question 11
A firm's marketing mix is given by the 4 Ps: Product, Price, Place, and Promotion. What is the name of the P that refers to the firm's advertising efforts?
A. Product
B. Price
C. Place
D. Promotion
Question 12
A business has a cash flow of ₦500,000 and a profit of ₦200,000. What is the ratio of cash flow to profit?
A. 1:2
B. 2:1
C. 3:1
D. 1:1
Question 13
A company has a policy of paying its employees a 10% bonus on their annual salaries. If an employee's salary is ₦1,500,000, what is the total amount the employee will receive at the end of the year, including the bonus?
A. ₦1,650,000
B. ₦1,650,000
C. ₦1,650,000
D. ₦1,650,000
Question 14
A consumer protection agency has identified a product with the following characteristics: price = ₦500, quantity demanded = 100 units, and elasticity of demand = 0.5. What is the price elasticity of demand?
A. 0.5
B. 1.5
C. 2.5
D. 3.5
Question 15
A company's articles of association may provide for a different class of shares to have a different voting power. What is the name of this type of share?
A. Ordinary Share
B. Preference Share
C. Redeemable Share
D. Voting Share

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