An imperfect competitor is in equilibrium when
ECONOMICS
WAEC 1998
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)
Correct Answer: A. Marginal cost (MC) is equal to Marginal Revenue (MR)
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