Microeconomics
5th Edition
ISBN: 9781319098780
Author: Paul Krugman, Robin Wells
Publisher: Worth Publishers
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Chapter 18, Problem 3P
To determine
Percentage change in median and mean income over the period 1972 to 2015.
Concept Introduction:
Mean is the average of the total population. It is calculated as
Median is the value that divides the population in two equal segments. It means that 50% of the population lies above the median and 50% lies below the median.
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