The long-run aggregate supply (LRAS) curve is vertical because:     Answers: A.  The short-run production is inelastic to the average price level.   B.  As the price level increases, profit margins remain.   C.  The full-employment output level is fixed in a given period.   D.  All of the above.

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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The long-run aggregate supply (LRAS) curve is vertical because:

   

Answers:

A. 

The short-run production is inelastic to the average price level.

 

B. 

As the price level increases, profit margins remain.

 

C. 

The full-employment output level is fixed in a given period.

 

D. 

All of the above.

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