What does the Lorenz curve measure in the economy?

Mathematics

2 answers:

AnnZ [28]3 years ago

8 0

Answer:

a graphical representation of the distribution of income or of wealth.

Ymorist [56]3 years ago

5 0

The correct answer on Edgen is:

It illustrates income distribution. In economics, the Lorenz curve is a graphical representation of the distribution of income or of wealth. It was developed by Max O. Lorenz in 1905 for representing inequality of the wealth distribution. The curve is a graph showing the proportion of overall income or wealth assumed by the bottom x% of the people, although this is not rigorously true for a finite population.

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During March, a firm expects its total sales to be $160,000, its total variable costs to be $95,000, and its total fixed costs t

Tcecarenko [31]

Answer:

$65,000

Step-by-step explanation:

The question asks to calculate the contribution margin for the month of March.

The contribution margin is mathematically calculated as the selling price per unit minus the variable cost per unit

According to the parameters in this particular question, the contribution margin is selling price - total variable cost = 160,000 - 95,000 = $65,000

3 0

3 years ago