Consider the following perfectly competitive market for oranges:

Qs = 5P

Qd = 60 - 5P

Now suppose that demand for oranges increases by 20 units at each price. After the increase in demand, which of the following is correct?

A) The equilibrium price is unchanged, and the quantity traded increases by 20.

B) The equilibrium price increases by $2, and the quantity traded increases by 20.

C) The equilibrium price increases by $2, and the quantity traded increases by 10.

D) The equilibrium price increases to $8, and the quantity traded decreases to 40.