Suppose you enter into a short $6-$month forward position at a forward price of $$50.$ What is thepayoff in $6$ months for prices of$$40,$$$45,$$$50,$ $$55,$ and $$60?$

b$.$ Suppose you buy a $6-$month put option with a strike price of $$50.$ What is the payoff in $6$ months atthe same prices for the underlying asset?

c$.$ Comparing the payoffs of parts $($a$)$ and $($b$),$ which contract should be more expensive $($i$.$e$.,$ the longput or short forward$)?$ Why?