If demand increases and supply decreases, what is the effect on equilibrium price and equilibrium quantity?

Question

Quizplus · Accepted Answer

When demand increases, it puts upward pressure on both price and quantity. When supply decreases, it also puts upward pressure on price but downward pressure on quantity. The net effect is a definite increase in price, but the effect on quantity is ambiguous because it depends on the relative magnitudes of the demand increase and supply decrease.

If Demand Increases and Supply Decreases, What Is the Effect