In long-run equilibrium a perfectly competitive firm will operate where the price is
A) greater than MR but equal to MC and minimum ATC.
B) greater than MR and MC, but equal to minimum ATC.
C) greater than MC and minimum ATC, but equal to MR.
D) equal to MR, MC and minimum to ATC.
D
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Falling output, in the short run, could be due to:
A. an increase in short-run aggregate supply. B. a reduction in aggregate demand. C. an increase in long-run aggregate supply. D. an increase in aggregate demand.
Which of the following is least likely to be considered a capital input?
A) a sewing machine B) a tractor C) a telephone D) a ten dollar bill
Refer to the information provided in Figure 7.3 below to answer the question(s) that follow. 
Figure 7.3Refer to Figure 7.3. The marginal product of the first worker is ________ yards raked.
A. 10 B. 13.5 C. 17 D. 27
The long-run average total cost curve of a natural monopolist
A. Is U-shaped. B. Is below the long-run marginal cost curve in the relevant range of production. C. Reflects diseconomies of scale. D. Is downward-sloping in the relevant range of production.