A perfectly competitive firm is a price Select one: O Taker and a monopolistically competitive firm is a price maker O Maker and a monopolistically competitive firm is a price taker O Taker and a monopolistically competitive firm is also a price taker O Maker and a monopolistically competitive firm is also a price makerA natural barrier to entry involves Select one: O The existence of economies of scale O The ownership or control of an essential resource O The requirement of substantial funds O A government licence or patentA monopoly can make profits in the long run because of Select one: Barriers to entry O A differentiated product O Many competitors O Lower pricesIn an expansionary phase of the cycle, automatic stabilisers Select one: Decrease unemployment benefits paid, increase tax collection and move the budget towards a surplus Increase unemployment benefits paid, decrease tax collection and move the budget towards a surplus Decrease unemployment benefits paid, decrease tax collection and move the budget towards a deficit Increase unemployment benefits paid, increase tax collection and move the budget towards a surplus