In the situation of imperfect competition, the relation between market price P and marginal revenue MR for each supplying firm is that:
1) P is less than MR at all or most output levels.
2) P is greater than MR at all or most output levels.
3) P is the same as MR at all output levels
4) P is either less than MR at particular output levels or the same as MR
5) none of the above, since P is not related to MR.