A single acre can easily produce enough food for a small family and we have 408 million acres under cultivation. Corn is something of a super star at 8,250 lb. of corn per acre. However, we end up feeding most of this to animals which drastically reduces overall efficiency.
So, sure we are going to spend a lot of effort maximizing food production. But a 50% drop in the food supply over a few years would not be that big of an issue with a small increase in grain prices and a significant bump in meat costs.