suppose a tornado levels hundreds of homes. as rebuilding begins, how might you analyze the effect this would have on the market for lumber?

When a product is in equilibrium quantity, there is neither a scarcity nor a surplus on the market. When supply and demand cross, the amount of a good that consumers desire to buy is equal to the amount that its manufacturers are supplying.
The price at which the quantity provided and demanded are equal is referred to as the equilibrium price. It is established by where the demand and supply curves cross. If more goods or services are produced than are needed to satisfy demand at the going rate, there is a surplus, which pushes prices lower.
A market-clearing price often referred to as an equilibrium price, is the consumer cost associated with a good or service when supply and demand are equal or nearly equal. The manufacturer or vendor is free to transfer as many units as they like, and the consumer is free to access as many units as they like.

Suppose a tornado levels hundreds of homes. as rebuilding begins, how might you analyze the effect this would have on the market for lumber?

The demand for lumber would increase, increasing both the equilibrium price and quantity.

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