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The Lorenz curve

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What would the Lorenz curve look life if income were equally distributed? Could the curve ever bow upward above the line of income eqaulity?

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Solution Summary

The Lorenz curve is represented. Whether the curve could ever bow upward above the line of income equality is determined.

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The Lorenz curve represent income distribution. It shows the relation between the cumulative percentage of people and the cumulative accumulation of wealth. That is, it shows what percentage of total income does the bottom x% of the population get. It is plotted with the cumulative population percentage on the horizontal ...

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