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Callaway is a company that sells golf clubs. Callaway recently engaged in research and development leading...

Callaway is a company that sells golf clubs. Callaway recently engaged in research and development leading to the production, and released, of a new set of clubs designed for women that provides a significant advantage to players. Explain, using a graph, how will this impact on the price, quantity and profit of Callaway in the long run if the company is a monopoly? Explain, using a graph, how this will change if many other companies start selling similar products? – Word count 300

PLEASE EXPLAIN THIS WITH MANY GRAPHS AND GIVE AN COMPLETE ANSWER. PLEASE GIVE AN ANSWER FOR THE WORD COUNT OF 300.(DOESN'T MATTER IF THE WORD COUNT IS 250). PLEASE GIVE AN ANSWER BY ASSUMING THAT YOU ARE TELLING THE ANSWER TO A ONE WHO IS NEW TO ECONOMICS.

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