Fact checked by Suzanne Kvilhaug Reviewed by Robert C. Kelly Monopoly vs. Oligopoly: An Overview A monopoly and an oligopoly ...

Unlike perfect competition, where numerous small firms compete with identical products, imperfect competition is ...

For example, if one company cuts prices, other players typically follow suit. Prices are usually higher in an oligopoly than they would be in perfect competition. Because there is no dominant ...