Long-Run Supply quantity, industry, following, long

MeteorShower

Which of the following is least likely a characteristic of the long-run industry supply curve?

A) The long-run supply curve is flatter than the short-run supply curve.


B) In the long run, there will be a greater change of quantity supplied for a given price change, than in the short run.


C) The long-run supply curve is less elastic than the short run supply curve.

Your answer: A was incorrect. The correct answer was C) The long-run supply curve is less elastic than the short run supply curve.
The long-run supply curve is more elastic and flatter than the short-run supply curve. In the long-run, firms have greater flexibility to alter production scale and methods. Both remaining items in this question are true for the long-run supply curve.

I thought the LRAS was vertical and perfectly inelastic. What am I missing here?