If commodity X is a by-product of commodity Y , this implies that both commodities are
-
A.
in competitive supply -
B.
in composite supply -
C.
jointly supplied -
D.
in excess supply
Correct Answer: Option B
Explanation
When the process of making one thing results in a second product as well, that second thing is called a byproduct. Example The production of computer systems, require a software to function, hence would be jointly supplied.
Composite Supply is one where 2 or more goods or services are supplied together.