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Economics (AS & A Level) · Feb / March 2021 · Paper 12 · Question 3

9708Economic methodology

What distinguishes the very long run from the long run?

  1. Athe ability to change resource allocation
  2. Bthe ability to change the state of technology
  3. Cthe absence of government market intervention
  4. Dthe existence of variable factors of production

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Correct answer: B. the ability to change the state of technology

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