Multiple Choice
Identify the
choice that best completes the statement or answers the question.
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1.
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In a fair-division procedure, the goal is for each person to receive is
______________.
a. | an identical portion. | b. | what is perceived as an identical
portion. | c. | what is perceived as an acceptable portion. |
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2.
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| Ana, Bob, and Chad are trying to
split a candy bar 3 ways. They try to use a basic cut and choose method to divide the candy bar that
they all value equally. | | | |
For their method, Ana first cuts the candy bar in three pieces.
Then, Bob selects what he perceives to be the biggest portion from the 3 pieces in front of
Ana. Finally, Chad picks the portion he prefers from the 2 remaining pieces that are still in
front of Ana.
To which person is this method the most unfair?
a. | Ana | b. | Bob | c. | Chad | d. | It is actually equally fair to all three of
them. |
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3.
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Two siblings are given a car to
share by their grandparents.
In this example the asset being shared is the car Which of
the below correctly describes the asset? | | | |
a. | The asset is continuous. | b. | The asset is discrete. | c. | The asset is
mixed. |
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4.
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A pizza is half pepperoni and half
cheese. The pizza costs $18. Mark values the Pepperoni side twice as much as the cheese
only side.
How much then, would Mark monetarily value 1/3 of the pepperoni side of the
pizza?
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5.
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Andie, Beth, and Chris all equally inherited a Car, a House, and $42,000 in
cash. They all agreed to use an independent attorney to conduct the method of
‘Sealed Bids.’ Each recipient will make a confidential bid to the attorney and if
they present the highest bid for an item they will own it but will have to pay the others their fair
share of the cash value of the item. None of the recipients will know what the other bid.
Here are the results the attorney gathered:
Who will end up owning the House using the method
of Sealed Bids ?
a. | Andie | c. | Chris | b. | Beth | d. | The attorney |
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6.
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Andie, Beth, and Chris all equally inherited a Car, a House, and $42,000 in
cash. They all agreed to use an independent attorney to conduct the method of
‘Sealed Bids.’ Each recipient will make a confidential bid to the attorney and if
they present the highest bid for an item they will own it but will have to pay the others their fair
share of the cash value of the item. None of the recipients will know what the other bid.
Here are the results the attorney gathered:
According to Andie what should be her perceived
fair share cash value amount (to the nearest dollar)?
a. | $495,000 | c. | $165,000 | b. | $157,000 | d. | $471,000 |
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