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09-04-2024
Mathematics

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We define a Lorenz Curve as y = L(x) over the interval [0, 1] by plotting the points (a/100, b/100) if the top a percent of the populations owns b percent of the total wealth in the society. What values should L(x) have at 0 and 1 ? What types of functions would be Lorenz curves? What would different concavities represent in a society?

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