SHOW ALL WORK Suppose that the economy of Loserville has the following

SHOW ALL WORK Suppose that the economy of Loserville

Suppose that the economy of Loserville has the following distribution of income

SHOW ALL WORK Suppose that the economy

of Loserville has the following distribution of income

SHOW ALL WORK Suppose that the

SHOW ALL WORK

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SHOW ALL WORK
1. Suppose that the economy of Loserville has the following distribution of income:
first quintile 5% of aggregate income
second quintile 5% of aggregate income
third quintile 10% of aggregate income
fourth quintile 20% of aggregate income
fifth quintile 60% of aggregate income
a. From the information provided, please derive a Lorenz Curve for Loserville. Show graphically.
b. From the Lorenz Curve you have drawn, find the Gini Coefficient.

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