A Wall Street Journal headline reads: "Cigar Shortage Draws New Brands into Market." The shortage resulted from a renewed interest in smoking cigars. What best describes the facts behind the headline?

Question

Quizplus · Accepted Answer

The renewed interest in smoking cigars has increased the quantity demanded, but the price has not adjusted upwards to balance the increased demand with the available supply, leading to a shortage.

A Wall Street Journal Headline Reads: "Cigar Shortage Draws New