Demand Increase, Supply Increase - Key Concept

Both the supply and demand curve shift to the right. The new equilibrium price can either increase, decrease, or remain the same, depending on curve shape and how much each curve shifts. If demand increases more than supply, the new equilibrium price is higher. If supply increases more than demand, the new equilibrium price is lower. If supply and demand both increase by the same amount, the equilibrium price stays the same.