Running economy as in oxygen uptake and metabolic efficiency increases as your run increases. It doesn’t stop for one hour, that’s why marathon runners do two hour long runs. After a certain point, which is completely dependent on the individual’s training history, current training, genes, diet, etc., the gains that you get from running longer and longer become less like the law of diminish returns states.
Biking is non running specific, so assuming you ran for 60 minutes, you might have to bike another 60 minutes to get the net effect as running say 80 minutes. Running is more specific to running than biking is obviously so the utilization of fuel and the effects that long efforts have on the muscles wouldn’t be as efficient on the bike I think.
I also would say that you don’t need to do a long run every week. Most everyone does their long run every Sunday, but you could just as well do a long run every 10 days. Long runs are seen as a workout in marathon training usually, but think of them as workouts even if you’re running 5k regardless of the pace you ran. There’s not going to be much benefit hammering a workout and trying to hammer a long run the next day, you just got to balance your easy days and hard days