A-LevelEconomicsThe price system and the microeconomy9708/12 · Feb/Mar 2023 · Q21 Mark
What is the definition of long run?
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
B: the time period when all factors of production are variable
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