Considering macro-economic theory, it is believed that because each oligopolist cares about its profit rather than the collective profit of all the oligopolists, "they cannot maintain the same degree of monopoly power enjoyed by a monopolist."
This is based on the idea that a monopolist is an individual or company which solely produces goods with no close substitute.
On the other hand, an oligopolist is one of the few individuals or companies which are considerably large and produces similar but narrowly different commodities.
Therefore, given the little competition among oligopolists, the monopolists without any form of competition enjoy more power in the market compared to oligopolists
Hence, in this case, it is concluded that there are differences between oligopolists and monopolists.
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