Find which a perfectly equal distribution.
Suppose you have the following income distribution data for the residents of Disney land:
Donald Duck $20,000
Ticket Taker $5,000
Minnie Mouse $25,000
Mickey Mouse $35,000
1. The percentage of Disney land income held by the lowest quintile is 15%. True or false also elucidate why?
2. Suppose which a perfectly equal distribution of income existed in Disney land. Which of the current residents would have the same income he or she has in the present distribution?
3. Now suppose which Mickey Mouse becomes a mean spirited authoritarian dictator. His income is $99,996. Every of the other characters receive $1. Describe Illustrate what this income distribution would look like on a Lorenz curve.