Some of the points on difference between perfect competiton and monopoly are as follows. So let us check compare perfect competiton and monopoly to know more about it.
|Firms are less efficient||Firms are more efficient|
|Strict barriers to entry||No barriers to entry|
|No cosumers choice||More consumers choice|
|Lower average cost||Higher average cost involved|
|No competition exist||Competiton exists|
|Economies of Scale||No economies of scale|
|Large scale production||Small scale production|
|It is a price maker||Price taker|
|Just one supplier||More than one supplier|
|No substitutes available||Substitutes available|
Similar article on Advantages & disadvantages of Monopoly for more details.