Question: I need answers to this question please 2. Supposed that consumer willingness to pay for timber is constant over time, and can be represented by
I need answers to this question please

2. Supposed that consumer willingness to pay for timber is constant over time, and can be represented by the following inverse demand function: P = 400 - 0.1Q, where P is the price per tonne of timber (in dollars) and Q is the quantity of timber (in tonnes). The marginal cost of harvesting timber is also stable over time, and can be represented as MC = 100, in dollars per tonne a) Graph the inverse demand and marginal cost curves for timber. b) Determine the optimal amount of timber extraction this year (n=0), in year 1 (n=1), year 2 (n=2), and year 3 (n=3). c) Calculate the sum of present values of net benefits from timber harvest within four years (n=0, n=1, n=2 and n=3), using a 5% discount rate. Please indicate the area of net benefit in the figure
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