Jamie and Margie need to divide a couch and a hot tub. Using the Method of...

  

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Jamie and Margie need to divide a couch and a hot tub. Using the Method of Sealed Bids, Jamie bids $530 on the couch and $160 on the hot tub, while Margie bids $490 on the couch and $180 on the hot tub. Jamie will get the couch, and Margie will take the hot tub and will also get a little bit of money from Jamie. To make the division fair, how much money will Jamie have to give to Margie? Billy and Joel need to divide a car and a dog. Using the Method of Sealed Bids, Billy bids $5000 on the car and $250 on the dog, while Joel bids $4800 on the car and $280 on the dog. Billy will get the car. Joel will take the dog and will also get some money from Billy. To make the division fair, how much money will Billy have to give to Joel? Jamie and Margie need to divide a couch and a hot tub. Using the Method of Sealed Bids, Jamie bids $530 on the couch and $160 on the hot tub, while Margie bids $490 on the couch and $180 on the hot tub. Jamie will get the couch, and Margie will take the hot tub and will also get a little bit of money from Jamie. To make the division fair, how much money will Jamie have to give to Margie? Billy and Joel need to divide a car and a dog. Using the Method of Sealed Bids, Billy bids $5000 on the car and $250 on the dog, while Joel bids $4800 on the car and $280 on the dog. Billy will get the car. Joel will take the dog and will also get some money from Billy. To make the division fair, how much money will Billy have to give to Joel?

Answer rating: 100% (QA)

To make the division fair using the Method of Sealed Bids we need to calculate how much money Jamie will have to give to Margie and how much money Bil... View the full answer