Math Problem Statement

Al, bel and cal jointly own a fruit stand. They​ can't get along anymore and decide to break up the partnership using the method of sealed​ bids, with the understanding that one of them will get the fruit stand and the other two will get cash. Al bids 144 dollars, ben bids 141 and cal bids 156. how much money do al and ben receive from cal for their one-thirds share

Solution

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Math Problem Analysis

Mathematical Concepts

Fair Division
Sealed-Bid Method
Proportional Distribution

Formulas

Fair Share for Each = Total Bid / Number of Partners
Amount Paid to Each Partner = Fair Share

Theorems

Fair Division Theorem

Suitable Grade Level

Grades 9-12