An increase in the supply of a commodity X automatically results in an increase in...
ECONOMICS
WAEC 2013
An increase in the supply of a commodity X automatically results in an increase in the supply of another commodity Y. This is a cause of
- A. elastic supply
- B. joint supply
- C. exceptional supply
- D. competitive supply
Correct Answer: B. joint supply
Explanation
Joint supply is where an increase or decrease in the supply of one good leads to an increase or decrease in supply of a by-product. For instance, an increase in the production of computers would lead to a corresponding increase in the supply of computer software, because a computer requires a software to operate
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