g Profit maximazation for a monopolist and a perfect competitor occurs where marginal revenue equals marginal cost. At this profit-maximizing output, the monopolist will charge a price marginal revenue and a perfect competitor will charge a price marginal revenue.

Higher than; Equal to

Explanation:

Profit maximazation for a monopolist and a perfect competitor occurs where marginal revenue equals marginal cost.

The Marginal Revenue curves are different for either of them though and this impacts what price they sell at. This is because the price the good will be sold at depends on where the maximising output touches the demand curve.

The Monopolist has a Marginal Revenue curve that is lower than the Demand Curve. Therefore the point where Marginal Revenue and Marginal Cost intersect, will not be on the demand curve but lower than it. The price charged will therefore be the point where the maximising output touches the Demand Curve.

The Perfectly Competitive Firm however is in a market where Price is equal to the Demand curve and equal to the Marginal Revenue curve as well. The point where the Marginal Cost intersects with Marginal Revenue will also be the point where the maximising output touches the Demand curve so the price will be the same as the Marginal Revenue.

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