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(32 marks) Owners and players alternate making offers over how to split $4.5 billion based on how many days are remaining in a season that

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(32 marks) Owners and players alternate making offers over how to split $4.5 billion based on how many days are remaining in a season that would normally last 225 days. One offer is made per day which can be accepted or rejected. Once an offer is accepted, the season begins with however many days are remaining and with the revenue sharing that was accepted. For simplicity, assume each day generates the same amount of revenue. Owners make the first offer and have an outside option of $11 million per day and players have an outside option of $3 million per day. a. (28 marks) Complete the following table. (Each blank is worth 1 mark except for the owners' and players' shares on day x, which are worth 2 marks each) Days Remaining Side Offering Owners' Share Players' Share 4 - -- x (if odd) x (if even) 224 225

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