Andre, Bea, and Chad or dividing an estate consisting of a house, a small farm, and a painting using the method of sealed bids. The table below shows the players bids on each of the items. House Farm Painting 180,000.00 120,000.00 175,000.00 430,000.00 480,000.00 428,000.00 72,000.00 60,000.00 65,000.00 con 000 nol CC0.000 nol CCO 000 onl a) Describe the first settlement of this fair division and compute the surplus. The house goes to Tatal Val..a The farm goes to Andre The painting goes to ◆ Bea → Chad

Advanced Engineering Mathematics
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Author:Erwin Kreyszig
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Andre, Bea, and Chad or dividing an estate consisting of a house, a small farm, and a painting using the method of sealed bids. The table below shows the players bids on
each of the items.
House
Farm
Painting
Tatal Val..
The farm goes to
65,000.00
CCO 000 onl CCO 000 onl
a) Describe the first settlement of this fair division and compute the surplus.
The house goes to
The painting goes to
Andre
Bea
Chad
◆ $
Andre
◆ $
The farm goes to
Bea
The painting goes to
Chad
$
◆ $
(
b) Describe the final settlement of this fair division problem.
The house goes to
Andre
$
$
180,000.00 120,000.00
175,000.00|
430,000.00 480,000.00 428,000.00
Bea
CO2 000 001
◆
72,000.00 60,000.00
Chad
◆
Transcribed Image Text:Andre, Bea, and Chad or dividing an estate consisting of a house, a small farm, and a painting using the method of sealed bids. The table below shows the players bids on each of the items. House Farm Painting Tatal Val.. The farm goes to 65,000.00 CCO 000 onl CCO 000 onl a) Describe the first settlement of this fair division and compute the surplus. The house goes to The painting goes to Andre Bea Chad ◆ $ Andre ◆ $ The farm goes to Bea The painting goes to Chad $ ◆ $ ( b) Describe the final settlement of this fair division problem. The house goes to Andre $ $ 180,000.00 120,000.00 175,000.00| 430,000.00 480,000.00 428,000.00 Bea CO2 000 001 ◆ 72,000.00 60,000.00 Chad ◆
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