What is the gini coefficient of this economy

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Question: Suppose we are in a world with 2 homogeneous income groups-a low-wage group and a high- wage group. That is, there are two possible wages in the economy, a low wage wL and a high wage WH, and everyone either earns the low wage wi or the high wage wH. 70% of the population belongs to the low-wage group, and the high wage group earns 20% of total income. What's the Gini Coefficient of this economy?

Reference no: EM133328435

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