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Suppose a Lorenz curve for a particular country isf(x)=x4 for 0≤x≤1.What is the Gini index of income concentration for this country? Give your answer to the nearest integer

Question

Suppose a Lorenz curve for a particular country is

f(x)=x4 for 0≤x≤1.
What is the Gini index of income concentration for this country? Give your answer to the nearest integer

 

 
check_circleAnswer
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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Tagged in

Math

Calculus

Integration

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