In a certain state, the Lorenz curves for the distributions of income for lawyers and engineers are
Question:
In a certain state, the Lorenz curves for the distributions of income for lawyers and engineers are y = L1(x) and y = L2(x), respectively, where
Find the Gini index for each curve. Which profession has the more equitable distribution of income?
Transcribed Image Text:
L₁(x) = 0.6x² + 0.4x and L₂(x)=x²³²e²-1
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For lawyers the Gini index is For engineers the Gi...View the full answer
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Related Book For
Calculus For Business, Economics And The Social And Life Sciences
ISBN: 9780073532387
11th Brief Edition
Authors: Laurence Hoffmann, Gerald Bradley, David Sobecki, Michael Price
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