Compared to the long run aggregate supply curve, the short- run aggregate supply curve is relatively:
A) more vertical.
B) less elastic.
C) steeper.
D) flatter.

Question

Quizplus · Accepted Answer

In the short term, firms have some flexibility in adjusting prices and production levels, so the short-run aggregate supply curve is generally flatter (less steep) than the long-run aggregate supply curve.

Compared to the Long Run Aggregate Supply Curve, the Short-