The following is the data on the income of people living in country A and B....

The following is the data on the income of people living in country A and B.

Income	# of population in Country A	# of population in Country B
10000	1000	4000
20000	5000	5000
30000	4000	6000
40000	12000	6500
50000	10000	5200
60000	6000	4600
70000	4500	5200
80000	3500	6500
90000	2500	3400
100000	1500	3600

Depict the income data on a Lorenz curve for country A
Depict the income data on a Lorenz curve for country B
Find the Gini-coefficient index for country A
Find the Gini-Coefficient index for country B
Interpret the index value

Solutions

Expert Solution

Rahul Sunny answered 1 year ago

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