Some of the difference between monopoly and monopolistic market are as follows. So let us check it out some information on monopoly to know more about monopoly.
- In Monopoly market there is only one producer of a product while in monopolistic market there are large number of producers.
- In monopoly market there is no difference between industry and firm and in monopolistic market there are many firms and the industry is called a group.
- In monopoly market there is no product differentiation while in monopolistic market every producer produces differentiated products.
- Also check out some advantages & disadvantages of Monopoly to learn more about monopoly.