Question: There are three agents, a, b, and c. Person a receives $500 in income, b receives $400, and c gets $100. How much income

There are three agents, a, b, and c. Person a receives $500

There are three agents, a, b, and c. Person a receives $500 in income, b receives $400, and c gets $100. How much income of the total income does the poorest 1/3 receive? How much does the bottom 2/3 receive? Graph the Lorenz Curve. Calculate area B. Calculate area A. What is the gini coefficient? Use a graph like the one below to draw a picture of the Lorenz curve and help in calculating areas A and B. %income 100% = 1 -%population 100% = 1

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