A-LevelEconomicsProduction and CostsFeb/Mar 2025Paper 1 Q21 Mark
To increase production, a firm in industry X needs to install capital equipment, while a firm in industry Y needs to research and introduce a new technology. What time periods are illustrated by these cases? industry X industry Y
Ashort run long run
Blong run long run
Clong run very long run
Dvery long run very long run
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of production and costs within the Economicssyllabus. The examiner's mark scheme requires...
📋 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...
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