Calculating the Gini Coefficient for a Simple Economy
In a hypothetical economy, the bottom 50% of the population earns 0% of the total income, while the top 50% earns 100% of the total income. The Gini coefficient is defined as the ratio A / (A + B), where A is the area between the line of perfect equality and the Lorenz curve, and (A + B) is the total area under the line of perfect equality on a standard 1x1 diagram. Calculate the Gini coefficient for this economy.
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