Deliveroo Australia operated in Australia for over six years, however during this time it failed to make a prot and subsequently went into administration. This led to the exit of Deliveroo from the Australian food delivery market, which was a shock for both customers and competitors. 1. Assume that the food delivery market in Australia is perfectly competitive. Use the market demand and supply model to answer the following questions: (a) Illustrate the market equilibrium for food delivery in Australia while Deliveroo was still in business. (b) Explain, with the aid of a new diagram, the impact of Deliveroo's exit from the Australian market for food delivery from part {a}, assuming that consumer preferences for food delivery have not been affected. (c) Following Deliveroo's collapse, suppose that consumer preferences for food delivery services increased. Explain the impact of this change on the market for food delivery in Australia and illustrate on your diagram from part {b}