Question

Suppose a Lorenz curve for a particular country is

f(x)=x^{4} for 0≤x≤1.

What is the Gini index of income concentration for this country? Give your answer to the nearest integer

Step 1

To compute the Gini index of the given Lorenz curve

Step 2

Gini index, by definition is area (R)/area (triangle OAB)=2 area (R). To compute the area (R), ...

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