If I build a project as it is created by the wizard I get this error:
C:\Program Files (x86)\MSBuild\Xamarin\Android\Xamarin.Android.Common.targets(5,5): Error XA9005: User code size, 690869 bytes, is larger than 65536 and requires a Indie (or higher) License. (XA9005) (_test_android05)
So it seems not to be possible to build MonoGame Applications with Xamarin Studio Starter.
Is there any alternative to Xamarin Studio, which are maybe free?