1.Since a monopoly charges a price higher than marginal cost, it will produce an inefficient amount of output.

2.In a monopolistically competitive industry with zero profits, each firm will produce less than the amount that minimizes average costs.

3.A monopolist who is able to practice third-degree price discrimination charges a higher price in the market that is more elastic

4.For a monopolist who faces a downward-sloping demand curve, marginal revenue is less than price whenever quantity sold is positive.

Are these statement true or false? Please explain them