Consider an economy with the following income distribution: Each person below the 25th percentile of the income

Question:

Consider an economy with the following income distribution: Each person below the 25th percentile of the income distribution earns $15,000. Each person between the 25th and 50th earns $30,000. Each person between 50th and 75th earns $45,000. And each person between the 75th and 100th percentiles receives $60,000. Graph the Lorenz curve and calculate the Gini coefficient for this economy?

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...