State whether the following statements are TRUE, FALSE, or UNCER- TAIN. You can take the non-italicized portions as given.

(a)(4 Points) True, False, or Uncertain: there is no need for the government to subsidize applied research applications because firms will be able to patent their invention and price as a monopolist.

(b)(4 Points) True, False, or Uncertain: total surplus is lower in a market when the firm is a monopolist, in comparison to a competitive economy with free entry.

(c)(4 Points) True, False, or Uncertain: car insurance is more expensive for those under 21 years old because of price discrimination.

(d)(4 Points) True, False, or Uncertain: When there is a merger between two firms, who were competing Cournot, the price in the market will increase.