Question: The Lorenz Curve Numerical example (Assignment No. 1) Intermediate steps: 1. Calculate the relative population shares and cumulated population shares of the four income groups.

The Lorenz Curve Numerical example (Assignment No. 1) Intermediate steps: 1. Calculate the relative population shares and cumulated population shares of the four income groups. 2. Calculate the relative income shares and cumulated income shares of the four income groups. Share of income requires calculation of total income: 100*50+500*20+750*20+2000*10=50000 3. Draw the Lorenz Curve using your results of steps 1 and 2.

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