part C D needed just (c) Derive the mixed strategy Nash equilibrium (MSNE). What is the proportion of Hawksand Doves? If the proportion of Hawks in the population of animals is greater thatmixed strategy equilibrium proportion, which strategy does better, Hawks of Doves?Explain your answer.(d) Draw the best response functions and shown in the diagram all pure and mixedstrategy equilibria. 4. Assume a Hawk -Dove game with the following payoff matrix, where the first entry isAnimal A's payoff and the second entry is Animal B's payoff:Animal A Hawk(rows)/AnimalB (columns)HawkDove(-10,-10)(0,20)Dove(20,0)(8,8)An animal that plays Hawk will always fight until it wins or is badly hurt. An animal that playsDove makes a bold display but retreats if his opponent starts to fight. If two Dove animals meetthey share.(a) Explain why there cannot be an equilibrium where all animals act as Doves.(b) Explore whether there are any Nash equilibria in pure strategies and explain whichthese are and why they are equilibria.

We have given the game table Animal B Hawk Dove Animal A Hawk (-10, -10) (20,0) Dove…

(c) Derive the mixed strategy Nash equilibrium (MSNE). What is the proportion of Hawks and Doves? If the proportion of Hawks in the population of animals is greater that mixed strategy equilibrium proportion, which strategy does better, Hawks of Doves? Explain your answer. (d) Draw the best response functions and shown in the diagram all pure and mixed strategy equilibria.

(c) Derive the mixed strategy Nash equilibrium (MSNE). What is the proportion of Hawks and Doves? If the proportion of Hawks in the population of animals is greater that mixed strategy equilibrium proportion, which strategy does better, Hawks of Doves? Explain your answer. (d) Draw the best response functions and shown in the diagram all pure and mixed strategy equilibria.

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter17: Oligopoly

Section: Chapter Questions

Problem 5PA

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