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
The correct answer is: 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.