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An imperfect competitor is in equilibrium when

An imperfect competitor is in equilibrium when
  • A.
    Marginal cost (MC) is equal to Marginal Revenue (MR)
  • B.
    Marginal Revenue (MR) equal to Price (P)
  • C.
    Average Revenue(AR) is equal to Average Cost (AC)
  • D.
    Output (Q) is equal to Average Revenue (AR)
  • E.
    Average Revenue (AR) is equal to Marginal Revenue (MR)
Correct Answer: Option A
Explanation