Forward Delivery was operating in a competitive market for mail delivery between [940- 1950. In 1951, the federal government passed a law granting Forward Delivery the sole right to deliver mail in the US. a. Draw the demand curve that Forward Delivery faces and Forward Delivery's cost curves (MC and ATC) after this law change. Assume their cost curves have the standard shapes. Be sure to label all of the curves and axes. b. Indicate on your graph the quantity (QF) that Forward Delivery will sell and the price (PF) that Forward Delivery will charge after this law change. c. Is this market efcient at QF and PF? If yes, in one sentence or less, how do you know? If no, clearly indicate the DWL. Now assume that the government decides to take over Forward Delivery, and instead of prots, they decide to have Forward Delivery maximize total surplus. (1. Indicate on your graph the quantity (QG) Forward Delivery will sell and the price (PG) that FORWARD will charge. e. Is this market efcient at QG and PG? If yes, in one sentence or less, how do you know? If no, clearly indicate the DWL. Assume that instead of taking over Forward Delivery, the government abolished the law granting Forward Delivery the sole right to mail delivery in the US, so new rms start entering the market offering similar, but not identical, mail delivery services as Forward Delivery