A group of 10 people have the following annual incomes


Question: A group of 10 people have the following annual incomes: $55,000, $30,000, $15,000, $20,000, $35,000, $80,000, $40,000, $45,000, $30,000, $50,000. Calculate the share of total income received by each quintile of this income distribution. Do the top and bottom quintiles in this distribution have a greater or larger share of total income than the top and bottom quintiles of the U.S. income distribution for 2005?

Solution Preview :

Prepared by a verified Expert
Microeconomics: A group of 10 people have the following annual incomes
Reference No:- TGS02430850

Now Priced at $15 (50% Discount)

Recommended (98%)

Rated (4.3/5)