There are 20 people living in Jalle town. Eight (8) residents are farmers, each of whom earns$200 per year. Six (6) of them are fishermen, each of whom earns $300 per year. Four (4) of the residents own small shops, each of whom earns $600 per year. Two (2) residents are mechanics and each of them earns an annual income of $1000. The total annual income of Jalle town is, therefore, $7,800.

a) Based on the information given above, fill out the table below

Population Quintiles	% of Income Received)
Poorest 0 %
Poorest 20%
Poorest 40%
Poorest 60%
Poorest 80%
Poorest 100%

b) Graph the Lorenz curve of Jalle town and compute the Gini coefficient.

Answer rating: 100% (QA)

a Based on the information given Occupation of Residents Annual ... View the full answer