A 6-foot sub valued at $25 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 $3.50 $7.00 $6.50 $4.00 Which player gets his or her share at the end of round 1? What is the value of the share to the player receiving it? Player 4, value $5.00. O b Player 4, value $6.50. Player 3, value $5.00. Od Player 3, value $7.00.

A 6-foot sub valued at $25 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 $3.50 $7.00 $6.50 $4.00 Which player gets his or her share at the end of round 1? What is the value of the share to the player receiving it? Player 4, value $5.00. O b Player 4, value $6.50. Player 3, value $5.00. Od Player 3, value $7.00.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter7: Uncertainty

Section: Chapter Questions

Problem 7.3P

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