If a fall in price of one commodity leads to an increase supply of another commodity, both commodities have

  • A composite supply
  • B joint supply
  • C competitive supply
  • D short run supply
waec 2009economics

The correct answer is C. competitive supply

Competitive supply means that the goods have alternative uses and compete for the same resources.

For example, a farmer can plant potatoes or carrots using essentially the same factors of production.

An increase in the supply of one crop will reduce the supply of the other

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