Kyle and Kayla are given a DVD player by their parents. They each want the DVD player in their room. Kyle thinks the DVD player is worth $110 while Kayla thinks it is worth $98. They will settle this dispute using the method of sealed bids.
a. Who should keep the DVD player?
b. What should they consider the value of the DVD player to be?
c. What does Kyle end up with, and why is he happy? d. What does Kayla end up with, and why is she happy?
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