Rightward shift in the demand curve:

• This means that at any given price, consumers are willing to buy more of the product.
• This shift, by itself, would lead to both an increase in equilibrium price and an increase in equilibrium quantity.

Leftward shift in the supply curve:

• This means that at any given price, producers are willing to supply less of the product.
• This shift, by itself, would lead to an increase in equilibrium price and a decrease in equilibrium quantity.

Combined effect:

• Price: Both shifts push the price upwards. Therefore, the equilibrium price will definitely increase.
• Quantity: The demand shift increases quantity, while the supply shift decreases quantity. The net effect on quantity depends on the relative magnitudes of the shifts.
  • If the demand shift is larger than the supply shift, quantity will increase.
  • If the supply shift is larger than the demand shift, quantity will decrease.
  • If the shifts are of equal magnitude, quantity will remain constant.