When a producer is able and willing to produce a product at current price levels this is called Elastic Demand Inelastic Supply

The correct answer is: Supply.<br /><br />When a producer is able and willing to produce a product at current price levels, it is referred to as supply. Supply represents the quantity of a good or service that producers are willing and able to offer for sale at different price levels during a given period of time. It is one of the key factors that determine the market equilibrium, along with demand.