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Posts: 74
2 weeks ago
What is a Lorenz curve and what is a Gini coefficient?
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Microeconomics
Edition: 7th
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Posts: 62
2 weeks ago
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A Lorenz curve is a curve that shows the distribution of income by arraying incomes from the lowest to the highest on the horizontal axis and indicating the cumulative fraction of income earned by each fraction of households on the vertical axis. A Gini coefficient is equal to the area between the line of perfect income equality and the Lorenz curve divided by the whole area below the line of perfect equality.
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2 weeks ago
You make an excellent tutor!
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