When there is an increase in demand and a decrease in supply, the market equilibrium price will generally _______ while the equilibrium quantity may be _______.

When demand for a product increases, it means more people want to buy it, which usually pushes the price up. At the same time, if supply decreases, there are fewer products available for people to buy, which can also lead to higher prices. In this situation, the market equilibrium price will generally rise because the competition among buyers will drive prices up. However, the equilibrium quantity, which is the amount sold in the market, may decrease because there aren’t enough products to meet the higher demand. For example, if more people want to buy a popular toy but fewer toys are being made, the price of the toy will go up, but fewer toys will actually be sold overall.