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 ago
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