In recent years, a global surge in the popularity of premium spirits has led to a dramatic increase in the market price of 18-year-old single-malt Scotch whisky. Despite these record-high prices, distillers have been unable to increase the quantity supplied of this product to meet the growing demand.
Explain one reason why distillers of aged single-malt whisky find it difficult to increase the quantity supplied in the short run.
13 exam-style questions on Edexcel A A Level Economics 1.2.4 Supply. Each one has a worked solution and a mark scheme showing where the marks go.