Problem 2. Surfboard Market Consider the perfectly competitive surfboard market in Australia. P Australian Surfboard Market (SISurfboard) O.1 Q (# of Surfboards) a) Indicate on the graph the equilibrium price and quantity of surfboards in Australia. b) If there is an increase in the number of shark attacks reported in Australia, what will happen to the supply and demand curves of the Australian Surfboard Market (ie shifts or movements along which curves)? c) What will happen to the equilibrium price and quantity of surfboards in Australia? d) If new laser-cutting technology results in cheaper mass production surfboards (of equal quality), what will happen to the supply and demand curves of the Australian Surfboard Market (ie shifts 0r movements along which curves)? e) What will happen to the equilibrium price and quantity of surfboards in Australia after the increase in shark attacks and new laser-cutting technology