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Model this situation using a game table.
Hawk and Dove: Two animals are fighting over some prey. Each can be passive or aggressive. Each prefers to be aggressive if the other is passive, and passive if the other is aggressive. Regardless of whether an animal is passive or aggressive, it would prefer that its opponent is passive, rather than aggressive.
(Hint: List all possible outcomes of the game, such as"Aggressive, Aggressive," and use the information above to decide how each of the two animals ranks the outcomes. Use this ranking to help you set payoffs.)
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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