Suppose the demand for tickets to a basketball game is Q^D = 40,000 - 1000 P and the market supply is fixed at Q^S = 25,000. The face price (P_F) on the tickets is $10.Assume the market for the basketball tickets is a competitive market.

1. What would the market outcome be (i.e., price paid, quantity exchanged and any shortage or surplus that results) if there is no anti-scalping law? Draw a graphical model of this market scenario.
2. What would the market outcome be (i.e., price paid, quantity exchanged and any shortage or surplus that results) if there is an anti-scalping law? Draw a graphical model of this market scenario.

Graphs are required, do not only answer with texts.