Below is a hypothetical breakdown of the income distribution in a country. use those calculate what should be graphed on the lorenz curve and then sketch a lorenz curve for those given numbers. using that lorenz curve show how a gini coefficient would be calculated and explain what the values of the gini coefficient mean. (do not have to calculate the gini, just describe how you could do so)?

quintile
percent of gdp received

bottom 20%

4
lower middle 20%

8
middle 20%

16

upper middle 20%

20
top 20%

52

1. gdp is calculated by summing consumption, investment, and exports of all final goods and services produced within the borders of a given country during a specific period the dollar value of all final goods and services produced within the borders of a given country during a specific period government expenditures within the borders of a given country during a specific period the quantity of all final goods and services produced within the borders of a given country during a specific period

If a team of three workers, each making the u.s. federal minimum wage, produced these 12 rugs, what would the total labor cost be? don't forget that these workers would be working overtime.

At a student café, there are equal numbers of two types of customers with the following values. the café owner cannot distinguish between the two types of students because many students without early classes arrive early anyway (i.e., she cannot price-discriminate). students with early classes students without early classes coffee 70 60 banana 51 101 the marginal cost of coffee is 10 and the marginal cost of a banana is 40. the café owner is considering three pricing strategies: 1. mixed bundling: price bundle of coffee and a banana for 161, or just a coffee for 70. 2. price separately: offer coffee at 60, price a banana at 101. 3. bundle only: coffee and a banana for 121. do not offer goods separately. assume that if the price of an item or bundle is no more than exactly equal to a student's willingness to pay, then the student will purchase the item or bundle. for simplicity, assume there is just one student with an early class, and one student without an early class. price strategy revenue from pricing strategy cost from pricing strategy profit from pricing strategy 1. mixed bundling $ $ $ 2. price separately $ $ $ 3. bundle only $ $ $ pricing strategy yields the highest profit for the café owner.