Suppose That in a Hawk-Dove Game Similar to the One

question 10

Multiple Choice

Suppose that in a Hawk-Dove game similar to the one discussed in your workbook, the payoff to each player is -6 if both play Hawk.If both play Dove, the payoff to each player is 3, and if one plays Hawk and the other plays Dove, the one that plays Hawk gets a payoff of 8 and the one that plays Dove gets 0.In equilibrium, we would expect hawks and doves to do equally well.This happens when the proportion of the total population that plays Hawk is

• A).45.
• B).23.
• C).11.
• D).73.
• E)1.

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Definitions:

Marginal Utility

The additional satisfaction or benefit received by a consumer from consuming one more unit of a good or service.

Consumer Surplus

Consumer surplus is the difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.

Consumer Surplus

The difference between the total amount consumers are willing and able to pay for a good or service versus the total amount they actually pay.

Marginal Utility

The increased gratification or value a shopper obtains by buying one more of a certain item or service.