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If an increase in the supply of beef increased the supply of hides, then beef...

Economics
WAEC 2020

If an increase in the supply of beef increased the supply of hides, then beef and hides are in
 

  • A. competitive supply
  • B. joint supply.
  • C. composite supply
  • D. joint demand 
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Correct Answer: Option B
Explanation

Joint supply refers to a product that can end up being transformed into at least two other types of goods. for instance, hides are a natural by-product of meat production and are gotten from livestock. An increase in the supply of beef will automatically lead to an increase in the production and supply of hides.

 

 

 


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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
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