Consider the following table with individuals in a country and their incomes. Fill in the following table:

Consider the following table with individuals in a country and their incomes. Fill in the following table:

Individuals

Income

% of income recipients

% of Income

1

$4

10%

2

$8

20%

3

$16

30%

4

$20

40%

5

$28

50%

6

$40

60%

7

$44

70%

8

$60

80%

9

$80

90%

10

$100

100%

100%

Total

$400

Draw the Lorenz curve for this country:

100% 90% 80% 70% 60% 50%

% of income 40%

30% 20% 10%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% % of income recipients

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