1. Suppose there are many types of used cameras each type with differing level of quality and each type is equally likely to be sold in the marketplace. Only sellers know the true quality of cameras. Best quality should bring $10,000, and worst quality should bring $1000 in price. If buyers cannot distinguish between good cameras and bad cameras, explain how bad cameras will drive out the good ones. What will happen to the average quality and price of the cameras that are sold in the marketplace?