POST UTME UNIOSUN 2025 Economics | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A firm's revenue function is given by R(x) = 2x^2 + 10x. If the firm's marginal revenue function is MR(x) = 4x + 10, find the value of x that maximizes revenue.
A. 0
B. 2.5
C. 5
D. 10
Question 2
A firm's production function is given by Q = 2L^0.5K^0.5. If the firm's output is 100 units and the number of labor units is 25, what is the value of the number of capital units?
A. 10
B. 20
C. 30
D. 40
Question 3
A government imposes a tax of ₦5 per unit on a product. If the demand function for the product is given by q = 100 - 2p and the supply function is given by q = 2p - 50, find the equilibrium price and quantity.
A. p = 20, q = 60
B. p = 25, q = 50
C. p = 30, q = 40
D. p = 35, q = 30
Question 4
A firm's production function is given by q = 2L^2 + 3K. If the firm's output is 100 units and the price of labor is ₦10 per unit, find the optimal level of labor.
A. 10
B. 20
C. 30
D. 40
Question 5
A firm has a \cost function given by C = 2Q^2 + 3Q + 10, where Q is the quantity produced. If the firm produces 10 units of output, find the total \cost and the marginal \cost.
A. Total Cost = ₦150, Marginal Cost = ₦20
B. Total Cost = ₦200, Marginal Cost = ₦30
C. Total Cost = ₦250, Marginal Cost = ₦40
D. Total Cost = ₦300, Marginal Cost = ₦50
Question 6
A firm produces two goods, X and Y, u\sing two inputs, labor (L) and capital (K). The production functions are given by X = 2L + 3K and Y = 4L + 2K. If the firm has 10 units of labor and 5 units of capital, find the maximum value of the objective function Z = 2X + 3Y.
A. 30
B. 40
C. 50
D. 60
Question 7
A firm's demand function is given by Q = 100 - 2P, where Q is quantity demanded and P is price. If the firm's supply function is given by Q = 2P - 100, what is the equilibrium price and quantity?
A. P = ₦50, Q = 50
B. P = ₦75, Q = 75
C. P = ₦100, Q = 100
D. P = ₦125, Q = 125
Question 8
A government imposes a tax on a firm's output. The firm's supply curve shifts to the left. What is the effect on the equilibrium price and quantity in the market?
A. The equilibrium price increases and the equilibrium quantity decreases.
B. The equilibrium price decreases and the equilibrium quantity increases.
C. The equilibrium price remains the same and the equilibrium quantity decreases.
D. The equilibrium price increases and the equilibrium quantity remains the same.
Question 9
A government imposes a tax on a firm's output. If the firm's supply curve shifts to the left, what will be the effect on the firm's optimal output?
A. Increase in optimal output
B. Decrease in optimal output
C. No change in optimal output
D. Increase in price
Question 10
Consider a firm operating in a perfectly competitive market. If the firm's marginal revenue (MR) curve intersects its marginal \cost (MC) curve at point E, where MR = MC, and the firm is producing 100 units of output, what is the opportunity \cost of producing one more unit of output?
A. The opportunity \cost is the price of the 101st unit.
B. The opportunity \cost is the price of the 100th unit.
C. The opportunity \cost is the price of the 99th unit.
D. The opportunity \cost is the price of the 98th unit.
Question 11
A country's GDP is ₦1,000,000,000,000, and its GNP is ₦1,100,000,000,000. What is the net factor income from abroad?
A. ₦100,000,000,000
B. ₦200,000,000,000
C. ₦300,000,000,000
D. ₦400,000,000,000
Question 12
A firm's revenue function is given by R(x) = 3x^2 + 20x. If the firm's marginal revenue function is MR(x) = 6x + 20, find the value of x that maximizes revenue.
A. 0
B. 3.33
C. 6.67
D. 10
Question 13
A firm's production function is given by Q = 2L + 3K, where L is labor and K is capital. If the firm's marginal product of labor (MPL) is 2 and the wage rate is ₦50 per hour, what is the optimal level of labor?
A. 10 hours
B. 20 hours
C. 30 hours
D. 40 hours
Question 14
A firm's production function is given by Q = 2L + 3K. If the firm's marginal product of labor (MPL) is given by MPL = 2, what is the firm's marginal product of capital (MPK)?
A. MPK = 3.
B. MPK = 4.
C. MPK = 5.
D. MPK = 6.
Question 15
A country's balance of payments account shows a trade deficit of $100 million. If the country's exchange rate is fixed at $1 = 100 units of domestic currency, what will be the effect on the domestic currency's value?
A. Appreciation of domestic currency
B. Depreciation of domestic currency
C. No change in domestic currency's value
D. Increase in domestic currency's value

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