First, the question seems incomplete. There is n number of in-vitro tests available to do that also not only with MCF-7 cells, but you can also do with any cell type.
What are you going to study, say in which area are you going to write your proposal?
I know this is cancer cell but in-vitro test in which angle: apoptosis, proliferation, ROS, mitochondria, antioxidants, gaseous mediators, cell cycle, ATP, enzymatic activity, glucose metabolism, drug resistance, angiogenesis, migration, invasion, etc.
So many in-vitro tests are available to study cancer. Now, which one you are looking for?
Now, these tests will need of fluorescence microplate, fluorescence microscopy, and flow cytometer. Based on resource and instrument availability, you can propose any of these assays.