Microeconomics,, 16th Canadian Edition

Problems

11. The table below shows the size distribution of income for

Fantasyland.

Household

Income Rank

Percentage of

Aggregate Income

Cumulative

Percentage

Lowest fifth 6.8 —

Second fifth 14.1 —

Third fifth 21.5 —

Fourth fifth 26.2 —

Highest fifth 31.4 —

a. Compute the cumulative percentage of total income. Fill

in the table.

b. On a scale diagram, with the cumulative percentage of

households on the horizontal axis and the cumulative