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Yes, this is true to a point. When you do multitasking, all the programs you are running are sharing the processing power. So more programs run than in a single-thread operating system, but they may run a little slower.

However, with modern hardware, this is more negligible. For instance, if you have a multicore processor, and you have no more running processes than cores (including virtual hyperthreading cores), then it would be about the same as running a single program on a single core, assuming the same amount of operating system overhead.

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