Gasoline and heating oil are examples of products which are
A)joint products in fixed proportions.
B)joint products in variable proportions.
C)joint products that are complements.
D)unrelated to each other.

Question

Quizplus · Accepted Answer

Gasoline and heating oil are both produced from crude oil refining and are joint products in variable proportions. The proportion of each product produced depends on the refining process and the demand for each product. In contrast, joint products in fixed proportions would always be produced in the same ratio, regardless of changes in demand or the production process.

Gasoline and Heating Oil Are Examples of Products Which Are