In a market where the demand for a product increases due to a rise in consumer income, how would this typically affect the equilibrium quantity if supply remains constant?

When consumer income rises, people generally have more money to spend, which often leads to an increase in demand for certain products. If the demand for a product increases while the supply remains the same, more people want to buy that product than before. This higher demand means that sellers can charge higher prices because more customers are competing to purchase the product. As the price rises, the quantity sold, known as the equilibrium quantity, will also increase until a new balance is reached between how much people want to buy and how much is available. For example, if more people start wanting to buy new smartphones because they have more money, and the number of smartphones available doesn't change, the price will go up, and more smartphones will be sold as a result.