Curve and apply to unequal distribution of income

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Explain Lorenz curve and apply to unequal distribution of income where the top 1% of income earners have disproportional of income. What percent of income is earned by the lowest 20% of the population? What percent of income is earned by the top 10% of the population? Is this fair, why or why not? Hint “90 to 100 percent of cumulative percentage of people” Explain Lorenz curve and apply to unequal distribution of income where the top 1% of income earners have disproportional of income. What percent of income is earned by the lowest 20% of the population? What percent of income is earned by the top 10% of the population? Is this fair, why or why not? Hint “90 to 100 percent of cumulative percentage of people”

Reference no: EM13889065

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