Question: Please help with the following question: There are two types of used cars in the market: high-quality and low-quality (lemons). Buyers value lemons at $5,000

Please help with the following question:

Please help with the following question: There are two types of used

There are two types of used cars in the market: high-quality and low-quality (\"lemons\"). Buyers value lemons at $5,000 and high-quality cars at $20,000. For owners of lemons, the reservation price is $2,000; for owners of high-quality cars, the reservation price is $17,000. Suppose that both sellers and buyers are risk neutral. Let 6 be the share of owners who have low-quality cars. (1) What happens if there is no informational asymmetry? (2) When information is asymmetric, how do equilibria look like for different values of 0, the share of lemons in the market

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