Second-hand smoke. Assume that the daily demand for packs of cigarettes in the tobacco-addicted nation of Pcoria is as follows:Q = 100 − PFurther assume that the marginal cost of producing a pack of cigarettes is $5, and that the market for cigarettes is perfectly competitive. Assume that each pack of cigarettes smoked does $6 worth of health damage to the smoker in the form of increased cancer risk and a total of $5 worth of health damage to the smoker’s neighbors via second-hand smoke. Finally, assume that all Pcorian cigarette consumers are aware of these costs.(e) Draw the public supply curve in this market. Explain why it differs from the private supply curve, and how this represents the externality from second-hand smoke. Highlight the area(s) of your diagram that represent social loss, and interpret this loss in terms of cigarette smoking.