Andi, Chris, and Kim Must Make a Fair Division of a Car

question 48

Multiple Choice

Andi, Chris, and Kim must make a fair division of a car left to them by their father. Using the Knaster inheritance procedure, the values they bid on the car are given below.
$\begin{array}{lccc} &\text { Andi}& \text { Chris}& \text { Kim }\\ \text { Car } &\$ 2400& \$ 3000& \$ 2700\end{array}$

How much value does Chris think he ends up with?

• A) $3000
• B) $1300
• C) $1100
• D) $1000

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Definitions:

Investment Curve

A graph showing the relationship between the rate of interest and the level of investment by firms, holding other factors constant.

Interest Rate

A fee, described as a percentage of the principal, that a borrower incurs from a lender for utilizing assets.

Aggregate Demand

The unified demand for all categories of goods and services within an economic framework, at a particular price level for a given time frame.

Money Supply

A measurement of the total amount of money available in an economy at a specific time.