Question
Lorenz Curve . The income distribution of a certain country is given by: L(x) = 0.86x 2 + 0.14x a.Sketch the Lorenz curve for this
Lorenz Curve. The income distribution of a certain country is given by:
L(x) = 0.86x2 + 0.14x
a.Sketch the Lorenz curve for this function along with the line
y = x.
b.Compute L(0.10) and interpret your answer.
c.Compute the Gini coefficient of inequality.
d. Find a "real" Lorenz Curve. Send the link and a brief paragraph describing your Lorenz Curve.
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The Great Divide Unequal Societies And What We Can Do About Them
Authors: Joseph E Stiglitz
1st Edition
0393352188, 9780393352184
