Final answer:
The long-run aggregate supply curve is upward sloping in the short-run due to sticky wages.
Step-by-step explanation:
In economics, the long-run aggregate supply (LRAS) curve is upward-sloping due to sticky wages.
Sticky wages are wages that do not adjust quickly to changes in the price level. When the price level rises, firms have an incentive to produce more in order to earn higher profits. However, in the short run, wages may be fixed, causing the aggregate supply curve to be upward-sloping instead of vertical.
For example, if the price level increases, but wages remain constant, firms can increase production without having to pay higher wages. This leads to a greater supply of goods and services.