1. Suppose there are three kinds of cars: good, medium, and bad. Owners value good cars at $20,000, medium cars at $15,000, and bad cars at $10,000. 40% of all cars are good, 40% are medium, and 20% are bad. Buyers cannot tell the quality of a car before they buy it. a. Explain why there is no market for good used cars. b. Explain why there is no market for medium used cars. c. Is there a market for bad used cars? Why or why not