If the demand for beer increased, what would be the effect on the equilibrium price and quantity of beer?

Question

Quizplus · Accepted Answer

With an increase in demand for beer, the equilibrium price and quantity will both increase. This is because, when demand increases, consumers are willing to pay more for the same quantity, thus driving up the price. At the same time, suppliers will increase their production to take advantage of the high demand and potential profits, resulting in an increase in quantity supplied. The intersection of the new demand and supply curves will result in a higher equilibrium price and quantity.

If the Demand for Beer Increased, What Would Be the Effect