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WAEC Economics 2023 Question 11

Question 11

Theory of Supply

Petrol and kerosene are jointly obtained from crude oil. If the supply of petrol increases, the

  1. A.supply of kerosene will fall.
  2. B.cost of crude oil production has increased.
  3. C.supply of kerosene will rise.
  4. D.supply of kerosene will remain unchanged.
Show the answer and explanation

Answer: C (supply of kerosene will rise.)

Explanation

Refining more crude for petrol also produces more kerosene.