POST UTME WELLSPRING UNIVERSITY 2017 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A firm's cost function is given by C(x) = 50x + 100. Find the marginal cost function.
A. ( C'(x) = 50 )
B. ( C'(x) = 100 )
C. ( C'(x) = 150 )
D. ( C'(x) = 200 )
Question 2
A company's sole trader has a business bank account with a balance of ₦125,000. If the company pays ₦25,000 as rent and ₦15,000 as utility bills, what is the new balance in the account?
A. ₦85,000
B. ₦90,000
C. ₦95,000
D. ₦100,000
Question 3
A firm's demand function is given by Q = 100 - 2P. If the firm's price is 20, what is the firm's quantity demanded?
A. 40
B. 50
C. 60
D. 70
Question 4
A firm's production function is given by Q = 2L^0.5K^0.5. If the firm's labor and capital inputs are increased by 20% and 15%, respectively, what is the percentage change in output?
A. 5%
B. 10%
C. 15%
D. 20%
Question 5
A company is considering exporting its products to a foreign market. What is the primary advantage of exporting?
A. Increased market share
B. Improved brand reputation
C. Reduced production costs
D. Access to new markets and customers
Question 6
A firm's revenue function is given by R(x) = 100x - 2x^2. Find the marginal revenue function.
A. ( R'(x) = 100 - 4x )
B. ( R'(x) = 100 + 4x )
C. ( R'(x) = 100 - 2x )
D. ( R'(x) = 100 + 2x )
Question 7
A company's marketing strategy involves a 20% discount on all products. If a customer buys a product worth ₦10,000, how much will they pay after the discount?
A. ₦8,000
B. ₦9,000
C. ₦10,000
D. ₦12,000
Question 8
A company's marketing strategy involves a combination of advertising, sales promotions, and public relations. Which of the following is a key benefit of using a combination of these tactics?
A. Increased brand awareness
B. Improved customer engagement
C. Enhanced product differentiation
D. Better return on investment
Question 9
A firm has a production function given by Q = 2L + 3K, where Q is the output, L is the labor, and K is the capital. If the firm increases its labor from 10 units to 15 units, and capital from 5 units to 8 units, what is the percentage increase in output?
A. 10%
B. 20%
C. 30%
D. 40%
Question 10
A company's production function is given by Q = 3L^0.7K^0.3. If the firm's current output is 27 units and the number of workers is 9, how many units of capital are required?
A. 6 units
B. 12 units
C. 18 units
D. 24 units
Question 11
A company is considering investing in a new project. What is the primary consideration for the company's management?
A. Return on investment
B. Break-even analysis
C. Cash flow projections
D. Risk assessment
Question 12
A company's sole trader has a business bank account with a balance of ₦125,000. If the company pays ₦25,000 as rent and ₦15,000 as utility bills, what is the new balance in the account?
A. ₦85,000
B. ₦90,000
C. ₦95,000
D. ₦100,000
Question 13
A country's trade balance is given by the equation TB = X - M, where X is the value of exports and M is the value of imports. If the country's exports are 100 billion and its imports are 80 billion, what is the country's trade balance?
A. 20 billion
B. 30 billion
C. 40 billion
D. 50 billion
Question 14
A company's supply chain involves a combination of just-in-time and just-in-case inventory management. Which of the following is a key benefit of this approach?
A. Improved inventory turnover
B. Enhanced supply chain flexibility
C. Reduced inventory costs
D. Increased demand forecasting accuracy
Question 15
A company has a warehouse with a capacity of 10,000 units. If the current stock level is 8,000 units and the daily demand is 200 units, what is the reorder point?
A. 6,000 units
B. 7,000 units
C. 8,000 units
D. 9,000 units

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