Perfectly competitive firms and monopolist firms both maximize profit where

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Both perfectly competitive firms and monopolist firms maximize profit where marginal cost equals marginal revenue. In a perfectly competitive market, the price is equal to marginal revenue, so profit-maximizing firms will produce at the output level where marginal cost equals price (and hence, marginal revenue). In a monopoly, the firm faces the market demand curve and can choose any price and output level it wants, subject to the constraint that it maximizes profit, which occurs where marginal revenue equals marginal cost.

Perfectly Competitive Firms and Monopolist Firms Both Maximize Profit Where