The profit-maximizing combination of output and price for a single-price monopoly market is MR=MC.
What is monopoly market?
A monopoly is defined as a market condition where there is only one company that owns full ownership of the market and has complete control over prices and output.
The monopoly's profit-maximizing choice will be to expose at the quantity where marginal revenue equals marginal cost.
In the case if the monopoly producers produce a lowset amount of quantity in comparison to the profit maximizing grade, MR > MC at definite output levels.
Therefore, MR=MC at profit-maximizing combination of output and price in the case of monopoly market.
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