When there is an increase in demand, the result would be that the equilibrium price and quantity would rise so this is TRUE.
What happens when demand rises?
When there is an increase in demand in an economy, the demand curve would have to shift to the right.
This shift would then intersect the supply curve at a higher price and quantity which would infer a rise in both equilibrium price and quantity.
Find out more on the effects of a rise in demand at https://brainly.com/question/4371942
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