21 a How are Callaway and Nike attempting to maintain economic profit?

b Draw a graph to illustrate the cost curves and revenue curves of Callaway or Nike in the market for golf clubs for women.

c Show on your graph in part

(b) the short-run economic profit. One of the hottest areas of innovation is in clubs for women, who now make up nearly a quarter of the 24 million golfers in the US. Callaway and Nike, two of the leading golf-equipment manufacturers, recently released new clubs designed specifically for women.