If Thailand is more efficient at producing fax machines and telephone answering machines than Malaysia, then Thailand enjoys a(n) _____ advantage over Malaysia in the production of these products.

A possible advantage of a horizontal merger for the economy is that

A) the government stands to collect more corporate income tax revenue. B) the merged firm might reap economies of scale which could translate into lower prices. C) the merging firms could avoid losses. D) the degree of competition in the industry will be intensified.

Constant returns to scale indicate that a firm is experiencing:

a. per unit costs of production that are decreasing as the scale of output expands. b. per unit costs of production that remain stable as the scale of output expands. c. per unit costs of production that are increasing as the scale of output expands d. an increasing marginal product.