A farmer can plant either wheat or tobacco. Over time, consumers realise the adverse health effects of smoking and stop smoking. What will then happen to the equilibrium price and equilibrium quantity of wheat? A. Equilibrium quantity will increase and equilibrium price will fall. B. Equilibrium quantity will increase and equilibrium price will rise. C. Equilibrium quantity will decrease and equilibrium price will fall. D. Equilibrium quantity will decrease and equilibrium price will rise.

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A: Answer to the question is as follows:

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