Many people who do not smoke cigars are bothered by the odor of cigar smoke. Use the accompanying figure showing the market for cigars to illustrate the implications of a failure of the market cigar supply curve to reflect the social or spillover costs of cigar smoking. Supply O Using the line drawing tool, locate the approximate position of the true supply curve (the one 17 reflecting both private and social costs). Properly label this line. Price per Cigar Carefully follow the instructions above, and only draw the required objects. In the absence of any government involvement in the market for cigars, will too many or too few cigars be produced and consumed? From society's point of view, will the market price of cigars be too high or too low? . . . Demand Quantity of Cigars