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WAEC Economics 2013 Question 16

Question 16

Theory of Supply

An increase in the supply of a commodity X automatically results in an increase in the supply of another commodity Y. This is a case of

  1. A.elastic supply.
  2. B.joint supply.
  3. C.exceptional supply.
  4. D.competitive supply.
Show the answer and explanation

Answer: B (joint supply.)

Explanation

Goods produced together from one process are in joint supply.