2.1 By using the data in the following table, create two graphs. The first graph should plot...

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2.1 By using the data in the following table, create two graphs. The first graph should plot the Lorenz curves for left-handed people and right-handed people. The second graph should plot the Lorenz curve for the 1998 “all” data and the Lorenz curve for the 2018 “all” data. In each graph, which has the higher Gini coefficient? How do you interpret the result? Percent of Income 2018 1998 Left-Handed Right-Handed All All Lowest fifth 5.7 3.9 4.5 3.0 Second fifth 9.1 7.3 8.7 7.2 Third fifth 17.3 14.8 16.0 14.1 Fourth fifth 22.2 26.0 23.3 25.2 Highest fifth 45.7 48.0 47.5 50.5

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Principles Of Microeconomics

ISBN: 9780691150093

13th Global Edition

Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster

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