If an increase in the price of crude oil led to an increase in the prices of kerosene and grease,then kerosene and grease are in
a
joint supply.
b
competitive supply.
c
composite supply.
d
market supply.
Explanation
Correct Option
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Discussions (2)
Shinayomi1409
2 months ago
The question asked totally different from the main intentions.
Kerosene and Grease are mainly gotten from Crude oil. So, changes in price of Crude oil will affect the supply of Kerosene and Grease.
That is to say, Crude oil is an example of Composite Supply.
Shinayomi1409
2 months ago
The question asked was totally different from the main intentions.
Kerosene and Grease are mainly gotten from Crude oil. So, changes in price of Crude oil will affect the supply of Kerosene and Grease.
That is to say, Crude oil is an example of Composite Supply.
