1.1 Question 1 There are two types of racers - tortoises and hares - who race against one another in randomly drawn pairs. In this world, hares beat tortoises every time without fail. If two hares race they tie, and they are completely exhausted by the race. When two tortoises race they also tie, but they enjoy a pleasant conversation along the way. The payoff table is as follows: Column Ewe 1w [ a0 (a) Assume that the proportion of tortoises in the population, , is 0.5. Should tortoise or hare have greater fitness? (b) Should tortoise or hare have greater fitness if t = (.17 () Find all equilibria of this game. For each equilibrium, state whether it is monomorphic or polymorphic and whether it is stable. If the payoff for a tortoise to race with another tortoise is (where > 0) instead of 5 (d) Assume that the proportion of tortoise in the population, , is 0.5. For what values of will tortoises have greater fitness than hares? e) For what values of will tortoises be fitter than hares if t = 0.17 f (f) If = 1, will a single hare successfully invade a population of pure tortoises? Explain why or why not. g) In terms of , how large must be for tortoises to have greater fitness than hares? ) ) (8) (h) In terms of , what is the level of t in a polymorphic equilibrium? For what values of will such an equilibrium exist? Explain