Which of the following accurately explains a difference between the short-run aggregate supply (SRAS) curve and the long-run aggregate supply (LRAS) curve?
a. The LRAS curve reflects constant input prices with adjustable output prices, whereas the SRAS curve reflects adjustable input and output prices.
b. The LRAS curve reflects constant output prices with adjustable input prices, whereas the SRAS curve reflect constant output prices.
c. The SRAS curve reflects constant input prices with adjustable output prices, whereas the LRAS curve reflects adjustable input and output prices.
d. The SRAS curve reflects constant output prices with adjustable input prices, whereas the LRAS curve reflects constant input and output prices.
c. The SRAS curve reflects constant input prices with adjustable output prices, whereas the LRAS curve reflects adjustable input and output prices.
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