Since the shrimp harvest was plentiful, the supply curve will shift to the right on the graph. Usually with a supply increase, the price will drop. The price elasticity is greater than the absolute value of 1. That means that the demand for shrimp is elastic. Thus, more people will buy more shrimp if the price is lower. Total revenue for the shrimp industry should increase. Even though price decreased, revenue grows due to the increase in quantity because it is elastic.
