1. Suppose the market for used cameras in Athabasca includes both high quality [expensive] cameras as well as low quality {inexpensive} cameras. The markets for high quality and low Quality cameras can be described as follows: Demand for high quality cameras: QE 2 1115 3.5P'1I Supply ofhigh gualig cameras: Q? = 217 + 2.5PH Demand for low quality cameras: (1%, = 1143 6.5PL Supply of low Quality cameras: Q1; 2 417 + 3.5PL a. If buyers and sellers have complete information {no asymmetric information), how many high Quality and how many low quality cameras will be sold and at what prices? b. If buyers cannot distinguish between high quality and lowr Quality cameras (asymmetric information is so much that buyers even cannot distinguish different quality of cameras), how many high quality and how many low quality cameras will be sold and at what prices? c. What conclusion can you make from your findings in (a) and {b}