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:

• The demand for handmade acoustic guitars.
• The supply of handmade acoustic guitars.
• The equilibrium price of handmade acoustic guitars.
• The equilibrium quantity of handmade acoustic guitars.