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 – Marginal cost (MC) is equal to Marginal Revenue (MR)