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Assume that Al, Beth, Carol, David, and Ed receive incomes of $500, $250, 5125,575, and $50, respectively. Construct and interpret a Lorenz curve for this

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Assume that Al, Beth, Carol, David, and Ed receive incomes of $500, $250, 5125,575, and $50, respectively. Construct and interpret a Lorenz curve for this five person economy. What percentage of total income is received by the richest quintile and by the poorest quintile

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