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Q. Use demand and supply curves (feel free to use graphical depictions but it is not required) to help you determine the impact that each of the following events has on the market for surfboards in Melbourne, Australia. Do not forget about price in each of the scenarios.
a) Melbourne experiences unusually high temperatures, resulting in more people going to the beaches.
b) There is a significant increase in the price of the wooden materials used to make the surfboards.
c) A large school of sharks is reportedly seen by beach-goers at the beaches of Melbourne. During this period of time, the number of producers of surfboards increases.
Given the optimal output in c, Elucidate how much profit (or loss) can the manager of Ever Klein Pool Services expect to earn?
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