Can someone please explain it to me ASAP?!!! The area and curves

iz curve is given by y = L(x), where Ox s 1 represents the lowest fraction of the population of a society in terms of wealth and 0 sys 1 represents the fraction of the total wealth that is owned by that fraction society. Use this information to complete parts a through g. lick the icon to view an example of a Lorenz curve. orenz curve y = L(x) is accompanied by the line y = x, called the line of perfect equality. Explain why this line is given this name. Choose the correct answer below. The lowest 50% of households own 100% of the wealth. The lowest p% of households owns exactly (1 - p)% of the wealth for 0 s p s 100. Example of Lorenze Curve C. The lowest p% of households owns exactly p% of the wealth for 0 s p s 100. D. The lowest 50% of households own 60% of the wealth. 10- Line of perfect Explain why a Lorenz curve satisfies the conditions L(0) = 0, L(1) = 1, and L'(x) 2 0 on [0, 1]. Choose the correct answer belo equality 0.8 of households control 0.6 of the wealth Fraction of total income A. The function must be increasing and concave down because the poorest p% has to own more than p% of the wealth. Lorenz curve, y = L(x) B. The function must be increasing and concave up because the poorest p% cannot own more than p% of the wealth. O C. The function must be decreasing and concave up because the poorest p% cannot own more than p% of the wealth. 0.2- 0.5 of households control 0.2 of the wealth O D. The function must be decreasing and concave down because the poorest p% cannot own more than p% of the wealth. 0.8 1.0 X Fraction of households Help Me Solve This View an Example Get More Help - Print Done CL +5 STAR+ Official Video 2:01 PM