The profit$-$maximization problem for a monopolist differs from that of a competitive firm in of the following ways?

Question $1$Answer

A competitive firm maximizes revenue equals cost; a monopolist maximizes profit at the point where average revenue exceeds marginal cost.

A competitive firm maximizes profit at the point where marginal revenue equals marginal cost; a monopolist maximizes profit at the point where marginal revenue exceeds marginal cost.

For a profit$-$maximizing competitive firm, thinking at the margin is much more important it is for a profit$-$ maximizing monopolist.

For a competitive firm, marginal revenue at the profit$-$maximizing level of output is equal to marginal all of output; for a monopolist, marginal revenue at the profit$-$maximizing level of output is smaller than it is for larger levels of output