Kim and Tori Must Make a Fair Division of Three

question 43

Multiple Choice

Kim and Tori must make a fair division of three objects. Using the adjusted winner procedure, what does Kim end up with? $$\begin{array} { l l l } \text { Object } & \text { Kim's points } & \text { Tori's points } \\\text { Ring } & 20 & 35 \\\text { Necklace } & 70 & 45 \\\text { Bracelet } & 10 & 20\end{array}$$

• A) 20/23 of the necklace
• B) 3/23 of the necklace
• C) the necklace and 1/2 of the ring
• D) the ring and the bracelet

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Definitions:

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount actually paid.

Early Freeze

An event where temperatures drop to freezing levels earlier in the season than is typically expected.

Lemon Crop

The production output of lemons within a particular period.

Consumer Surplus

The differential between the financial amount consumers are willing to allocate for a product or service and the actual payment made.