A-LevelEconomicsTheory of the Firm / Costs of ProductionFeb/Mar 2023Paper 1 Q21 Mark

What is the definition of long run?

Q: What topic does this question test?

This question tests Theory of the Firm / Costs of Production in A-Level Economics (syllabus code 9708). It is worth 1 mark.

Athe time period when all factors of production are specialised

Bthe time period when all factors of production are variable

Cthe time period when all key inputs into production are variable

Dthe time period when at least one factor of production is fixed

✓ Correct Answer

The correct answer is B: the time period when all factors of production are variable

📋 Examiner Report & Trap Analysis

Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...

🎯 Mark Scheme Breakdown

Award 1 mark for identifying the correct principle. Award 1 mark for showing clear working. Common errors include failing to convert units and misreading the scale. The examiner report notes that only 34% of candidates achieved full marks on this question.

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About This A-Level Economics Question

Topic

This multiple-choice question tests Theory of the Firm / Costs of Production in A-Level Economics (syllabus code 9708). It is worth 1 mark.

Source

This question appeared in the Cambridge A-Level Economics Feb/Mar 2023 examination, Paper 1 Variant 2.

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