1) When looking at the shot run supply curve a vertical line happens due when supply is at a fixed rate. The supplier is producing “x” amount only. The supply curve will become more elastic over a period of time due to the fact that demand for golf will increase as well as supply. The shape will look like more horizontally, and will kept shifting until the equilibrium is level. There will be a more constant supply curve in the future not the vertical line which is the one end extreme.
2) Three factors that cause the demand for golf to increase is one “Tiger Woods” influence this factor results in a increase in demand because Tiger is an idol to a lot of kids and they want to be like their idol and they are willing to pay to get lessons and go into various incentive programs. Another huge factor is the decrease in price.
3) The future golf game in Canada is enormous at this time and is only going to get bigger. All the baby boomers are retiring and this will have a huge factor on the game as well as young kids who want to get into the game at a very early age. The current supply for golf right now is so high that there is still people entering the sport everyday, because of this the industry will benefit from this in five years when all of the new comers are buying more clubs and golf apparel. People are making new courses as well to meet the demand with the supply of new courses. A new course will take two or three years to build and five to seven years to become a course of quality playing. In the next five years it will be apparent that all the courses and facilities will be opening to supply the demand for golf.
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