If a perfectly competitive firm achieves productive efficiency then
A) it is producing at minimum efficient scale.
B) it will raise its price in order to earn an economic profit.
C) it is producing the good it sells at the lowest possible cost.
D) the price of the good it sells is equal to the benefit consumers receive from consuming the last unit of the good sold.
C
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Refer to the graph below for a monopolist in short-run equilibrium. This monopolist:
A. Has a loss per unit equal to DE
B. Has total fixed costs equal to area BEFC
C. Earns positive economic profit equal to the area of ABED
D. Will cease production since its economic profits are negative
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward