Indicate if the following statements are true (T) or false (F): 1. Question 1 The efficient frontier will always contain the cheapest company in the industry. 2 points True False 2. Question 2 There can be no more than two firms in the efficient frontier. 1 point False True 3. Question 3 Two retailers compete in costs and ambience of their retail stores. They are identical in all other dimensions of customer utility. Retailer A is cheaper than retailer B. Retailer A also has better ambience. Therefore, retailer A is on the efficient frontier. 1 point True False