A cake valued at $40 is divided among five players (P1, P2, P3, P4, P5) using the last diminisher method. The players play in a fixed order, with P1 first, P2 second, and so on. In round 1, P1 makes the first cut and makes a claim on a C-piece. For each of the remaining players, the value of the current C-piece at the time it is their turn is given in the following table: Player 2 Player 3 Player 4 Player 5 Value of current C-piece $5.50 $8.75 $6.50 $9.00 Which player gets his or her share at the end of round 1 and round 2? What is the value of the share to the players receiving the share? Round 1: Player 3, value $8.00 Round 2: Player 5, value $9.00 Round 1: Player 5, approximate value $9.00 Round 2: Player 3, value $8.75 Round 1: Player 5, approximate value $9.00 Round 2: Player 3, value $8.00 Round 1: Player 4, approximate value $6.50 Round 2: Player 3, value $8.00 O b O d

A cake valued at $40 is divided among five players (P1, P2, P3, P4, P5) using the last diminisher method. The players play in a fixed order, with P1 first, P2 second, and so on. In round 1, P1 makes the first cut and makes a claim on a C-piece. For each of the remaining players, the value of the current C-piece at the time it is their turn is given in the following table: Player 2 Player 3 Player 4 Player 5 Value of current C-piece $5.50 $8.75 $6.50 $9.00 Which player gets his or her share at the end of round 1 and round 2? What is the value of the share to the players receiving the share? Round 1: Player 3, value $8.00 Round 2: Player 5, value $9.00 Round 1: Player 5, approximate value $9.00 Round 2: Player 3, value $8.75 Round 1: Player 5, approximate value $9.00 Round 2: Player 3, value $8.00 Round 1: Player 4, approximate value $6.50 Round 2: Player 3, value $8.00 O b O d

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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