For this one, please spend some time thinking about the different market structures that have been discussed and what that implies for buyer and seller behavior. Please spend at least as much time thinking as you do writing. Google is not likely to help you here, but your textbook can. 1. You are travelling by taxi in a South American city. When the taxi stops alla stoplight, you observe several people walking among the stopped cars offering apples for sale. Your taxi driver rolls down the window and purchases an apple from one of the vendors. You ask the taxi driver, "Why did you buy the apple from that vendor?" The driver replies, "I often buy from that vendor because the apple is always of excellent quality" In what market structure (competitive. monopolistic. monopolistically competitive. oligopolistic) are the vendors operating at that site? Explain your answer 2. Which of the following conditions will tend to induce collusion among sellers in a market? Explain your answer. a. The transactions are publicly announced. b. The market has few sellers. c. Some sellers have lower costs than other sellers, d. The market is open for only one year e. The sellers cannot meet one another As always, you need to say enough on each topic to let me know you understand What you're talking about Any response that seems to quote too extensively from your text OR from any other source will receive NO points. Any response using the exact same wording as another student's Will receive NO points