This scenario has the potential to be a very profitable one for players with a good understanding of tournament strategy. Playing good solid poker will undoubtedly be profitable but may also leave a lot of money on the table. In order to maximize Expected Value in all situations (the key to becoming a really successful tournament player) it is crucial to understand the mistakes the weaker players are making and exploit them ruthlessly.
In Mastering Small Stakes No-Limit Tournaments Lexy Gavin-Mather, a well known coach and professional player, outlines a solid basic strategy for tournament play at the small stakes and also identifies how and when to adjust profitably. If you play a lot of small stakes tournaments this book will prove invaluable in fine tuning your game and turning you from a tournament winner into a tournament crusher.