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.
| Monopoly | Perfect Competition |
| 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.