According to the information provided, as a result of the increase in the demand for abalone, we would predict that in the short run:

Question

Quizplus · Accepted Answer

When there is an increase in demand for abalone, the price for abalone would rise in the short run due to the limited supply of abalone. The production of abalone is unlikely to immediately increase in response to the increase in demand, so production may not be at an efficient scale in the short run. The cost for existing wild abalone fishers may or may not rise, depending on their ability to adjust their supply in response to the increase in demand.

According to the Information Provided, as a Result of the Increase