Method of dividing toys ensures-final division is efficient

Reference no: EM13698955

A parent has a pile of toys to divide between two children. Assume that there is an even number of each toy. What method of dividing the toys ensures that the final division is efficient?

A) Divide the pile equally

B) Give each toy to the child who cries the loudest

C) Divide the pile so that each child is equally happy

D) Let one child dived the pile into two parts, and the other child decide who gets which part

E) Divide the pile arbitrarily, and then let the children trade toys until there are no more mutually beneficial trades

Reference no: EM13698955

Questions Cloud

Calculate the optimal quantity and the consumer surplus : Let the inverse demand curve for tennis classes is: P = 90 - 1.5Q. If the equilibrium price is $15, calculate the optimal quantity and the consumer surplus. If price increase to $30, calculate the optimal quantity and the new consumer surplus.

Using present value analysis math : Using present value analysis math, discuss the cost and benefit of paying for 4 years of college. Make any assumptions you want about the market interest rates. Use math and discuss. Is going to college worth it?

The cost of eradicating polio : Suppose that the cost of eradicating polio from a society of 1,000 persons is $5 per person. Also suppose that only two persons in that society will benefit from that policy, and the benefit to each of those persons is $2,000. Then what is the social..

Suppose consumer derives satisfaction from consuming tacos : Suppose a consumer derives satisfaction from consuming tacos: those from Taco Bell and those from Chipoltle. Graph the budget line of the consumer under the assumption that he is offered a “buy three, get one free” deal at Taco Bell (limit one free t..

Method of dividing toys ensures-final division is efficient : A parent has a pile of toys to divide between two children. Assume that there is an even number of each toy. What method of dividing the toys ensures that the final division is efficient?

Describe the business and its likely main competitors : Assume that you are going to start a small business of your own. Further, imagine that you are able to adequately differentiate your product, or service so that you can establish your business as a monopolistically competitive firm. Describe the busi..

Budget curve and indifference curves : Assume consumer equilibrium (budget curve and indifference curves). Draw 3 separate scenarios: (1) the price of good x decreases; (2) the price of good y increases; and (3) the budget (income increases). In each scenario, explain the effect on the gr..

income elasticity of demand for Art Deco lawn furniture : Your firm’s research department has estimated the income elasticity of demand for Art Deco lawn furniture to be -0.85. You have just learned that due to an upturn in the economy, consumer incomes are expected to rise by 5 percent next year. How will ..

What sample preparation techniques might you consider using : What samples that should be collected and what sample preparation techniques might you consider using - what type of analysis could be carried out on the samples and using what technique.

User Account

All Pages