A Team of Five Players Split a Bonus as Follows

question 58

Short Answer

A team of five players split a bonus as follows: player one, two, three and four equally. Player five had a share that was twice as much as each individual share of the other players. If the team bonus was $75,000 how much did player five receive?

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Definitions:

Income Inequality

The uneven distribution of income within a population, leading to disparities in wealth and economic opportunities.

Income Classes

Categories of individuals or households distinguished by levels of income, such as low, middle, and high income.

Marginal Utility

The surplus satisfaction or benefit gained by consuming another unit of a good or service.

Total Utility

The overall satisfaction or value that a consumer derives from consuming a particular quantity of goods and services.