$PS$ #$7-$ Part $II-C-16\mathrm{.}1$

$(a)$ Give a name $or$ a description for each $of$ the conditions above. Explain what the titles $or$ descriptions you've given mean $in$ terms $of$ the concepts we've covered $in$ our unit $on$ firm behavior. We'll get you started $by$ naming $(1)as$ the "profit maximizing condition" for any firm producing a non$-$zero level $of$ output.

The $P=MR$ condition can $be$ called the ${?}_{(}{)}_{{?}_{?}}{?}_{{?}_{?}}{?}_{{?}_{?}}{?}_{{?}_{?}}{?}_{{?}_{?}}$ condition.

$A.$ Price taker

$B.$ Minimum efficient scale

$C.$ Zero economic profit

$D.$ Efficiency