Question
In: Economics
3. Represent the following information in a Lorenz curve. Make sure that the diagram is correctly...
3. Represent the following information in a Lorenz curve. Make sure that the diagram is correctly labeled.
|
Bottom Fifth |
Second Fifth |
Third Fifth |
Fourth Fifth |
Top Fifth |
|
3.8 |
9.3 |
15.1 |
23 |
48.9 |
Solutions
Expert Solution
| % of population | Share of Income | Cumulative Share of Income |
| 0-20 | 4 | 4 |
| 20-40 | 9 | 13 |
| 40-60 | 15 | 28 |
| 60-80 | 23 | 51 |
| 80-100 | 49 | 100 |
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Rahul Sunny answered 2 years agoRelated Solutions
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