Is the LRAS curve inelastic or elastic? In macroeconomics its shown to be inelastic while in microeconmics it said to elastic as factors are variable.
Perfectly (price) inelastic.
The key here is the A : _ aggregate _. The long-run supply of a given item may be (price) elastic, but the long-run aggregate supply – the sum of the supplies of _ everything _ – is perfectly (price) inelastic.