Quiz #2

[Skip Breadcrumb Navigation]

Home

Chapter3:

Quiz #2

This activity contains 15 questions.

Questions 1 and 3 refer to the following situation: Aaron and Brittney want to divide fairly the chocolate-banana cake shown in Figure 3.1 using the divider-chooser method. The total cost of the cake was $6.00. Aaron values chocolate five times as much as he values banana, while Brittney values banana twice as much as she values chocolate.

In Aaron’s eyes, the piece shown in Figure 3.2 is worth

$2.00$3.50$2.50$3.00None of the above

In Aaron’s eyes, the piece shown in Figure 3.3 is worth

$1.75$1.00$1.25$1.50None of the above

In Brittney’s eyes, the piece shown in Figure 3.4 is worth

$2.00$2.50$3.50$3.00None of the above

Three players (one divider and two choosers) are going to divide a cake fairly using the lone divider method. The divider cuts the cake into three slices (s₁, s₂, and s₃). If the choosers declarations are Chooser 1: {s₁, s₃} and Chooser 2: {s₃}, which of the following is a fair division of the cake?

Chooser 1 gets s₁; Chooser 2 gets s₂; Divider gets s₃.Chooser 1 gets s₃; Chooser 2 gets s₁; Divider gets s₂.Chooser 1 gets s₂; Chooser 2 gets s₁; Divider gets s₃.Chooser 1 gets s₁; Chooser 2 gets s₃; Divider gets s₂.None of the above

Three players (one divider and two choosers) are going to divide a cake fairly using the lone divider method. The divider cuts the cake into three slices (s₁, s₂, and s₃). Suppose the choosers value the slices as follows:

	s₁	s₂	s₃
Chooser 1	38%	32%	30%
Chooser 2	29%	29%	41%

Chooser 1 gets s₂; Chooser 2 gets s₁; Divider gets s₃.Chooser 1 gets s₃; Chooser 2 gets s₂; Divider gets s₁.Chooser 1 gets s₂; Chooser 2 gets s₃; Divider gets s₁.Chooser 1 gets s₁; Chooser 2 gets s₃; Divider gets s₂.None of the above

Questions 6 through 9 refer to the following example: Four heirs (A, B, C, and D) must divide fairly an estate consisting of three items – a house, a parcel of land, and a diamond ring – using the method of sealed bids. The players’ bids (in dollars) are:

	A	B	C	D
House	140,000	155,000	160,000	148,000
Land	80,000	90,000	100,000	75,000
Ring	40,000	35,000	36,000	25,000

The original fair share of player A is worth

$130,000.$86,667.$260,000.$65,000.None of the above

In the initial allocation, player A

gets the land and pays the estate $15,000.gets the house and pays the estate $75,000.gets the ring and an additional $25,000 from the estate.gets the ring and pays the estate $25,000.None of the above

After the initial allocation to each player is made there is a surplus of

$186,000.$0.$101,000.$29,000.None of the above

After all is said and done, the final allocation to player B is:

$99,000 in cash.$77,250 in cash.the ring and $32,250 in cash.$70,000 in cash.None of the above

Questions 10 through 12 refer to the following: Four players (A, B, C, D) agree to divide the 12 items shown in Figure 3.5 using the method of markers. The player’s bids are as indicated.

Item 4

is left over.goes to B.goes to C.goes to D.goes to A.

Item 10

goes to B.goes to A.goes to C.is left over.goes to D.

Item 7

goes to D.is left over.goes to A.goes to B.goes to C.

Which player receives the largest number of items?

BCAll players receive the same number of items –3.DA

Which of the following is a discrete fair division problem?

dividing a chocolate cakedividing an collection of jewelsdividing a gallon of milkdividing a liberated countryNone of the above

Phil and Rick are dividing a business. Except for the factory, they own very little of value so they agree to divide the factory fairly using the method of sealed bids. Phil bids $200,000 and Rick bids $190,000. After all is said and done, the final outcome is

Phil gets the factory and pays Rick $95,00.Phil gets the factory and pays Rick $97,500.Phil gets the factory and pays Rick $100,000.Phil gets the factory and pays Rick $105,000.None of the above

The Submit Answers for Grading feature requires scripting to function. Your browser either does not support scripting or you have turned scripting off.

So, the Submit Answers for Grading button below will not work.

The following Submit Answers for Grading button is provided in its place and will clear your answers:
The Clear Answers and Start Over feature requires scripting to function. Your browser either does not support scripting or you have turned scripting off.

So, the Clear Answers and Start Over button below will not work.

The following Clear Answers button is provided in its place and will clear your answers:

Your browser either does not support scripting or you have turned scripting off. Because of this, the answer choices will NOT appear in a different order each time the page is loaded, though that is mentioned below. Note that you do not need this feature to use this site.

Answer choices in this exercise appear in a different order each time the page is loaded.