Scenario 1. Market demand for cartons of cigarettes is given by the following table. ATC is fixed at $5 per carton. PRICE in $ QUANTITY 10 200 20 175 30 150 40 125 50 100 60 75 70 50 80 25 90 0 9. Refer to Scenario 1. What price level would maximize profit if the market were served by a monopoly? a. $30 C. $40 b. $50 d. $60 10. Refer to Scenario 1. What is the monopoly profit? a. $4500 c. $4375 b. $5000 d. $4750 1 1. Refer to Scenario 1. Suppose there are two firms selling cigarettes, each with ATC = $5 per carton. What is the profit of each team in a Nash Equilibrium? a. $2250 c. $2000 b. $1875 d. $1500