True/False 1. Although monopoly has lower output than competition, the level of output is efficient ______ 2. In the lon

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True/False
1. Although monopoly has lower output than competition, the level
of output is
efficient ______
2. In the long run, a monopolist charges the same price as a
perfectly competitive
firm______
3. A monopoly firm always devotes some of its profits to
research______
4. A monopolist firm is always more innovative than a competitive
firm______
5. Monopoly firms may lead to higher costs than perfectly
competitive firms______