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Question Completion Status: Which of the following is illegal according to the antitrust laws? price discrimination based on cost differences vertical mergers output restrictions price fixing QUESTION 9 When production is characterized by persistently declining long-run average costs as output increases the costs are lower if a single firm exists, and even if the firm is unregulated, price will still be lower with a single firm. O there is no need for the government to limit competition by licensing requirements. the costs of production are greater when competition exists than when a single firm produces a good. it is impossible for two firms to compete in the market. QUESTION 10 Which of the following is NOT a government response to asymmetric information? government licensing manufacturer's warranties O social regulation liability laws Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answ