If income distribution in an economy is perfectly equal, the lowest quintile will earn 20% of total income

Technology transfer comes only from nations importing new capital goods in the current account

Indicate whether the statement is true or false

Claude's Copper Clappers sells clappers for $40 each in a perfectly competitive market. At its present rate of output, Claude's marginal cost is $39, average variable cost is $45, and average total cost is $60 . To improve his profit/loss situation, Claude should

a. increase output b. reduce output but not to zero c. maintain the present rate of output d. shut down e. raise the price