2. The highest quality cricket bats, used by Test cricketers, sell for over $1,000AUD. They are made from a special type of willow tree grown specifically for that purpose. Similar bats, made from cheaper willow, sell for less than $200.

Suppose a plant disease destroys half of the worlds high quality willow trees. The stock of cheaper willow trees is unaffected.

(a) Explain how the market for high quality cricket bats might be affected by this change.

(b) Explain how the market for cricket bats made from cheaper willow might be affected by the change in the market for high quality bats.