Over the last three years, Christmas tree prices have increased from an average of $35 per tree to over $75 per tree. How would a Christmas tree farm and the overall industry respond to the price change under the following circumstances? Be sure to explain how your answer depends on the elasticity of supply:

a. The price increase is a result of an increase in demand from younger generations, mainly millennials, increasing their desire to purchase real Christmas trees.

b. The price increase is a result of fewer Christmas tree farms harvesting trees in response to consumers purchasing more artificial trees.