Solved: Income distribution of a country a certain countrys income, Mathematics

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Income distribution of a country a certain countrys income

Question: INCOME DISTRIBUTION OF A COUNTRY A certain country's income distribution is described by the function

f(x) = ((17/18)x² + (1/18)x)

a. Sketch the Lorentz curve for this function.

b. Compute f(0.3) and f(0.6) and interpret your results.

c. Compute the coefficient of inequality for this Lorentz curve.

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Mathematics: Income distribution of a country a certain countrys income

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