How do monopolists set the output level and price for their products? Multiple Choice Output is set at the market equilibrium quantity, while price is set at the intersection of marginal revenue and marginal cost. Output is set at the market equilibrium quantity, while price is set at market equilibrium price. Output is set at the intersection of marginal revenue and marginal cost, while price is set based on the demand curve. Output is set at the intersection of marginal revenue and marginal cost, while price is set at market equilibrium price