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In this paper, we examine and compare the potential maximum sum capacity of downlink multiple-input-multiple-output orthogonal frequency division multiple access (MIMO-OFDMA) and multiple-input-multiple-output multicarrier code division multiple access (MIMO-MC-CDMA) in a single-cell multiuser environment with channel side information at the transmitter, with and without a fairness constraint. The resource allocation is formulated as a cross-layer optimization framework and optimal power allocation and user selection algorithms are proposed for both scenarios. We find that for delay-sensitive applications, where fairness is imposed, the performance gain of OFDMA over MC-CDMA is quite large at moderate path loss exponents and number of antennas. However, for delay-insensitive applications, the benefits of OFDMA over MC-CDMA are significantly reduced when the path loss exponent or the number of antennas is large