How do producers who are subject to a binding price ceiling
respond as the time frame shifts from the short run to the long
run?
a
Producers are increasingly willing to substitute away from
producing the good, and their elasticity of supply becomes more
elastic.
b
Producers are increasingly willing to substitute away from
producing the good, and their elasticity of supply becomes less
elastic.
c
There are no changes, and elasticity of supply remains
unchanged.
d
Producers are less...