Suppose in Oklahoma we observe the following data on the distribution of income: Quintile ranking where 1 = lowest), % of income earned
1 3
2 11
3 19
4 27
5 40

Required:
a. Draw the appropriate Lorenz curve for this distribution
b. Fully explain at least four of the major contributing factors that led to this observed distribution.

Partnerships are the most common type of business firms in the world. t/f

You want to have $80,000 in your savings account 11 years from now, and you’re prepared to make equal annual deposits into the account at the end of each year. if the account pays 6.30 percent interest, what amount must you deposit each year? (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

The school cafeteria can make pizza for approximately $0.30 a slice. the cost of kitchen use and cafeteria staff runs about $200 per day. the pizza den nearby will deliver whole pizzas for $9.00 each. the cafeteria staff cuts the pizza into eight slices and serves them in the usual cafeteria line. with no cooking duties, the staff can be reduced by half, for a fixed cost of $75 per day. should the school cafeteria make or buy its pizzas?