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Use the Following Information to Answer the Questions

Question 101

Multiple Choice

Use the following information to answer the Questions:
Tom and Huck need to paint a fence and agree to use a modification of the divide-and-choose procedure to make a fair division of the chore. The boys' views of the fence are shown below. (Remember, each boy wants to end up with the smallest possible amount to paint.) Use the following information to answer the Questions: Tom and Huck need to paint a fence and agree to use a modification of the divide-and-choose procedure to make a fair division of the chore. The boys' views of the fence are shown below. (Remember, each boy wants to end up with the smallest possible amount to paint.)    -Andi and Terry need to make a fair division of a sofa they bought when sharing an apartment. They agree that Andi is entitled to two thirds of the sofa and Terry is entitled to one third of the sofa. They agree to use a modification of the Knaster inheritance procedure to divide the sofa. Andi believes the sofa is worth $360 and Terry believes the sofa is worth $315. Using the Knaster inheritance procedure, how much will Andi pay Terry for the sofa? A)  $105 B)  $110 C)  $120 D)  $315
-Andi and Terry need to make a fair division of a sofa they bought when sharing an apartment. They agree that Andi is entitled to two thirds of the sofa and Terry is entitled to one third of the sofa. They agree to use a modification of the Knaster inheritance procedure to divide the sofa. Andi believes the sofa is worth $360 and Terry believes the sofa is worth $315. Using the Knaster inheritance procedure, how much will Andi pay Terry for the sofa?


A) $105
B) $110
C) $120
D) $315

Correct Answer:

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