Supply Price (Private + Public Costs) $1.90 - Supply (Private Costs) 1.80 1.70 - 1.60 - 1.50

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Supply Price (Private + Public Costs) $1.90 - Supply (Private Costs) 1.80 1.70 - 1.60 - 1.50 1.35 35 38 42 58 Quantity This graph represents the cigarette industry. The socially optimal price and quantity are O $1.90 and 38 units, respectively. O $1.80 and 35 units, respectively. $1.60 and 42 units, respectively. O $1.35 and 58 units, respectively