A Cake valued at $90 is divided among five players (P1, P2, P3, P4, PS) 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 Value of current C-piece $19.00 Player 3 $17.50 O a Ob Oc Od 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 2, approximate value $19.00 Round 2: Player 5, value $18.00 Round 1: Player 5, value $18.00 Round 2: Player 2, value $18.00 Round 1: Player 2, approximate value $19.00 Round 2: Player 5, value $18.00 Player 4 $15.00 Round 1: Player 5, approximate value $19.50 Round 2: Player 2, value $18.00 Player 5 $19.50

ENGR.ECONOMIC ANALYSIS
14th Edition
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Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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A cake valued at $90 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
Value of current C-piece $19.00
O a
Player 3
$17.50
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?
Ob
O c
Od
Player 4
$15.00
Round 1: Player 2, approximate value $19.00
Round 2: Player 5, value $18.00
Round 1: Player 5, value $18.00
Round 2: Player 2, value $18.00
Round 1: Player 2, approximate value $19.00
Round 2: Player 5, value $18.00
Round 1: Player 5, approximate value $19.50
Round 2: Player 2, value $18.00
Player 5
$19.50
Transcribed Image Text:A cake valued at $90 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 Value of current C-piece $19.00 O a Player 3 $17.50 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? Ob O c Od Player 4 $15.00 Round 1: Player 2, approximate value $19.00 Round 2: Player 5, value $18.00 Round 1: Player 5, value $18.00 Round 2: Player 2, value $18.00 Round 1: Player 2, approximate value $19.00 Round 2: Player 5, value $18.00 Round 1: Player 5, approximate value $19.50 Round 2: Player 2, value $18.00 Player 5 $19.50
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