(Answered) Question the table shows the distribution of market income

Economics

Question: The table shows the distribution of market income in Canada in 2011.

Households Income share
(quintile) (percentage of total)

Lowest 7

Second 13

Third 18

Fourth 24

Highest 38

a. What is the definition of market income?

b. Draw the Lorenz curve for the distribution of market income.

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Microeconomics, Economics

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