Vilfredo Pareto (1848-1923) observed that most of wealth of the country owned by the few members of population. Pareto's principle is
Log P= Log c-k log w
where W is wealth level( how much money a person has) and P is number of people in population having that much money
a) solve equation for P
b) Suppose k=2.1, c=8,000 and W is measured in millions of dollars. Use part(a) to determine number of pople who have $2 million or more. how many people have $10 million or more?