KEY QUESTION Assume that Al, Beth, Carol, David, and Ed receive incomes of $500, $250, $125, $75,
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KEY QUESTION Assume that Al, Beth, Carol, David, and Ed receive incomes of $500, $250, $125, $75, 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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