Now suppose that environmentalists succeed in getting Brazilian rosewood banned in the U.S., so that guitar makers must use other, more-costly
woods. Suppose that this change in material does not change the quality of the sound of the guitars. Explain the effect of this change in wood on:_____
a. The demand for handmade acoustic guitars.
b. The supply of handmade acoustic guitars.
c. The equilibrium price of handmade acoustic guitars.
d. The equilibrium quantity of handmade acoustic guitars.