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In a population of hawks and doves,the winner of a contest between two individuals earns +20 and the loser earns 0.The cost of injury is -80,while the cost of a display is -10.If the proportion of hawks,h,is 0.4,is the population in a stable equilibrium?
D.The average reward for each type of player is the reward for each type of contest,multiplied by the probability of engaging in that type of contest.
H = -30(0.4)+ 20(0.6)= -12 + 12 = 0
Total Revenues
The entire amount of money received by a company from its business activities before any expenses are subtracted.
Equilibrium Point
The price and quantity at which the supply of a good matches its demand in a market, leading to a stable market condition.
S And D Curves
Supply and Demand curves, graphical representations in economics that show the relationship between the price of a good and the quantity supplied and demanded.
Maximum Amount
The highest possible quantity or level that can be reached or allowed.
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