For Chapter 13 Monopolistically Competitive Markets and Chapter 14 Oligopolies, both types of organization of businesses within any specific industry have a certain level of competition; compared to a Monopoly which has sole control of production. Discuss the difference perceived between the two in the following questions to expand on your answers: 1. Write one paragraph discussing the relationship between productive and allocation efficiency in a Monopolistically Competitive market and how customers influence that decision. 2. Write one paragraph examining what motivates businesses to enter into agreements with other companies to regulate the pricing and production of products. Please provide an example of an industry considered an Oligopoly and why the businesses do what they do. In your example, try to demonstrate how entrepreneurship and business decisions could alter oligopolies in the future. (Make sure you support your opinion with academic resources such as journal articles found on the HCCC Library website databases under research.) 3. Write one paragraph reflecting upon the cultural, legal, and/or political issues associated with dealing in the global economy in which Oligopolies and even Monopolies could be legal in some countries and illegal in others. Will this impact trade, or will customers' demands for products curb the decisions of the governments? (Make sure you support your opinion with academic resources such as journal articles found on the HCCC Library website databases under research.)