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Lorenz Curve . The income distribution of a certain country is given by L(x) = 23/30 x^2 + 7/30 x a.Sketch the Lorenz curve for

Lorenz Curve. The income distribution of a certain country is given by

L(x) = 23/30 x^2 + 7/30 x

a.Sketch the Lorenz curve for this function.

b.Compute L(0.10) and interpret your answer.

c.Compute the Gini coefficient of inequality.

d. For extra credit, find a "real" Lorenz Curve. Send the link and a brief paragraph describing your Lorenz Curve.

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