Question: Please show how to compute this problem. Thank you. A simple model for the Lorentz curve for family income in a particular country has the

Please show how to compute this problem. Thank you.

A simple model for the Lorentz curve for family income in a particular country has the form f(x) = x. The Gini index for family income in this country is thought to be 4/6. This means that the correct value of p is p = Using this value of p, find the fraction of the income earned by the top 5% of the population. The top 5% earn a fraction of the income. (Hint: Enter your answer in symbolic form, to avoid trouble with round-off error. Let Web Work do the arithmetic for you.)

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