The vertical LRAS implies that
A) the long run supply is not affected by the price level.
B) the price elasticity of supply is zero.
C) in the long run firms supply the full-employment level of output.
D) all of the above.

Question

Quizplus · Accepted Answer

The vertical LRAS curve indicates that in the long run, the supply is not affected by the price level (A), the price elasticity of supply is zero (B), and firms supply the full-employment level of output (C).

The Vertical LRAS Implies That