JAMB - Economics (2010 - No. 14)
If commodity X is a by-product of commodity Y , this implies that both commodities are
in competitive supply
in composite supply
jointly supplied
in excess supply
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.
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