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2. The function L(x) =0.6847x2 +0.0522x represents the Lorenz Curve for Country Y's income distribution in 1996. a. Compute the percent of wealth the upper
2. The function L(x) =0.6847x2 +0.0522x represents the Lorenz Curve for Country Y's income distribution in 1996. a. Compute the percent of wealth the upper 30% of the population controlled. b. Compute the percent of wealth the lower 60% of the population controlled. c. Determine the Gini index of Country Y
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International Economics
Authors: James Gerber
6th edition
978-0132950145, 132950146, 132948915, 978-0132948913
