During Valentine's season, the demand for candy increases as people choose to buy more candy. But firms face higher costs because of the extra packaging. Higher production costs lead to a decrease in supply. What is the impact on equilibrium price and quantity of candy when both demand increases and supply decreases? (1 Point) Quantity will increase and price will increase. Quantity will decrease and price will decrease. Quantity can either increase or decrease but price will increase. Quantity will increase but price can either increase or decrease