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What are the similarities and differences between pure monopoly and oligopoly?

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What are the similarities and differences between pure monopoly and oligopoly?

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In pure monopoly, there is only one provider for a product or service, whereas in oligopoly, market is dominated by a small number of sellers.

If a price war breaks out, oligopolists will produce and price much as a perfectly competitive industry would; at other times they act like a pure monopoly.

Oligopolists will display Interdependent decision-making. Interdependence means that firms must take into account likely reactions of their rivals to any change in price, output or forms of non-price competition. In monopoly, the producers did not have to consider a ...

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Sandeep Bardia, MBA
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  • BCom, SGTB Khalsa College, University of Delhi
  • MBA, Rochester Institute of Technology
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