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The US has one of the most unequal distribution of income with a Gini of 0.5. Now suppose that three individuals represent the US economy.r

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The US has one of the most unequal distribution of income with a Gini of 0.5. Now suppose that three individuals represent the US economy.r so that 1" = {er Y2. Y3} represents the distribution of average income in the US. According to the federal law, the minimum wage is $24K per annum which means Y1 = 224 = 12 {because halfof the population works). GDP per capita in the US is $60K: Y1 + Y2 + Ya 60. 3 a} Find Y2 and Y3. b) Draw the Lorentz curve

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