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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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