Find out perfectly equal distribution

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Reference no: EM1311371

Assume you have the following income distribution data for the residents of Disneyland: 

Pluto

  $15,000 

 Donald Duck   

 $20,000 

 Ticket Taker    

 $5,000 

 Minnie Mouse

 $25,000 

 Mickey Mouse

$35,000 


1. The percentage of Disneyland income held by the lowest quintile is 15%. True or false, and why? 
 
2. Assume that a perfectly equal distribution of income existed  in Disneyland. Which of the current residents would have the  same income he or she has in the present distribution? 
 
3. Now assume that Mickey Mouse becomes a meanspirited  authoritarian dictator. His income is $99,996. Each of the other  characters receives $1. Describe what this income distribution would look like on a Lorenz curve.

Reference no: EM1311371

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