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Would you like this assignment to be marked?YESNOMA103 Lab Report 9 - Integration ContinuedName:Student Number:Fall 20171. [8marks]In economics, the Lorenz curveL(x),where 0x1,measures the distribution of wealth within aneconomy.As an example, ifL(0.4) = 0.1,then this means that the lowest earning 40% of households have only 10%of the entire economy’s wealth (and the remaining 60% of households have the remaining 90% of the wealth).Theliney=xis called the line of equality since this would mean that the lowest earningx% of households would havex% of the economy’s wealth.Consider a country with a Lorenz curve given byL(x) =x3ex4-1.(a) Plot the Lorenz curveL(x) along with the line of equality in Maple.
(b) Evaluate each of the following using Maple.Round answers to 3 decimal places and interpretthe results.i)L(0.3).=0.010L(0.3);ii)L(0.6).