WAEC Economics 2023 Objective — Question 11
Question 11 of 50 from the West African Examinations Council (WAEC) Economics 2023 Objective paper, with the correct answer and a full explanation.
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Petrol and kerosene are jointly obtained from crude oil. If the supply of petrol increases, the A. supply of kerosene will fall. B. cost of crude oil production has increased. C. supply of kerosene will rise. D. supply of kerosene will remain unchanged.
- A. supply of kerosene will fall
- B. cost of crude oil production has increased
- C. supply of kerosene will riseCorrect
- D. supply of kerosene will remain unchanged
Explanation
Since both petrol and kerosene come from a single raw material (crude oil), an increase in output of one will definitely lead to an increase in the output of the other (joint supply).
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