While his orange production increased this year, Smith found that CA residents' preference for oranges dramatically decreased as well. He hired a famous economist, Diana to find out how market equilibrium price and quantity of orange would change, which would be very informative for his production plan in the future. The next day, Diana informed Smith of her economic analysis in detail via his work email.

Question: Based on the information,in this paragraph, discussthe the change in market equilibrium price and quantity of orange, using the concept of supply & demand