In a closed container at constant temperature, the concentrations of N₂ and O₂ in the reaction N₂ + O₂ ⇌ 2NO have remained unchanged for an hour. Laboratory measurements show that the rate of formation of NO is 8.0×10⁻⁶ mol L⁻¹ s⁻¹, while the rate of its decomposition is 6.5×10⁻⁶ mol L⁻¹ s⁻¹. Explain whether the system is at equilibrium and justify your answer.