Consider the Market for Pecans, Which Is Currently in Equilibrium

Multiple Choice

Consider the market for pecans, which is currently in equilibrium. Now, suppose a hurricane destroys a large number of pecan trees. How will the market for pecans change as a result of the hurricane?

A) The equilibrium price will decrease and the equilibrium quantity will increase due to an increase in supply.
B) The equilibrium price will increase and the equilibrium quantity will decrease due to a decrease in supply.
C) The equilibrium price and quantity will fall due to a decrease in supply and demand.
D) The equilibrium price will increase and the equilibrium quantity will decrease due to a decrease in supply and an increase in demand.