There will be a higher equilibrium price and quantity if supply increases and demand increases.
How to complete this statement?
Supply increases and demand stays the same: This would lead to a higher quantity but a lower price because there's more supply relative to demand.
Demand increases and supply stays the same: This would result in both a higher price and quantity because demand is outpacing the existing supply.
Supply increases and demand increases: This scenario tends to lead to a higher equilibrium quantity but has an ambiguous effect on price. The price could increase, decrease, or stay the same depending on the magnitude of changes in supply and demand.
Supply increases and demand decreases: This would generally result in a higher quantity but a lower price because there's more supply relative to demand.
So, the most likely scenario for a higher equilibrium price and quantity is when both supply and demand increase. When both increase, the quantity traded will definitely increase. The effect on price depends on the relative magnitudes of the changes in supply and demand. If the increase in demand is greater than the increase in supply, both price and quantity will go up.