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Monopolist point of view and a Pure Competition point of view

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Assume that a pure monopolist and a purely competitive firm have the same unit costs. Contrast the two firms in the long run equilibrium with respect to the following:
a) Price charged
b) Output produced
c) Profits
d) Allocation of resources
e) Impact on income distribution

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This job offers help with distinguishing between a Monopolist point of view and a Pure Competition point of view.

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Monopoly and Pure Competiton
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I have a hard time distinguishing between a Monopolist point of view and a Pure Competition point of view!!!!!

Assume that a pure monopolist and a purely competitive firm have the same unit costs.doc

Assume that a pure monopolist and a purely competitive firm have the same unit costs. Contrast the two firms in the long run equilibrium with respect to the following:
a) Price charged
b) Output produced
c) Profits
d) Allocation of resources
e) Impact on income distribution

Answer

a) Each firm in the perfectly competitive market acts as a price taker. The price are given and set by the industry demand and supply curve. Many suppliers each with an insignificant share of the market - this means that each firm is too small relative to the overall market to affect price via a change in its own supply - each individual firm is assumed to be a price taker.
But the firm with monopoly has price-setting power and will look to earn high levels of profit. A pure ...

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