An increase in equilibrium price and decrease in equilibrium

An increase in equilibrium price and decrease in equilibrium quantity is most likely caused by ____________________ shift in demand and __________________ shift in supply.

Solution

For Example:

If there is increase in the cost of an input used for production of apple will shift the supply curve of apples to the left, which result in an increase in the equilibrium price and a decline in the equilibrium quantity of oranges.