Refer to the following income data for five individuals. a. Construct and interpret a Lorenz curve for this five-person economy. Person Income Al $ 500 Beth 250 Carol L25 David 75 Ed 50 Instructions: Use the tool provided 'Lorenz' to plot a Lorenz curve. Your curve should begin at the origin (0 percent, 0 percent) and end at the upper-right corner (100 percent, 100 percent). Plot 6 points in total. Percent of income (cumulative) 100 Lorenz X 80 coordinates: pt X 2 20 5 60 40 15 40 60 30 80 50 20 6 100 100 20 40 60 80 100 Percent of individuals (cumulative) SAVEInstructions: Enter your answers as a whole number. b. What percentage of total income is received by the richest quintile and by the poorest quintile? Richest quintile = 50 percent Poorest quintile = 5 percent