Parameter values for this problem are provided in the table above.

$2.$a$.$ Suppose the owner approaches you and asks for your advice on how to best manage the

forest land for timber production. What formula would you apply to choose the best

rotation length? Using complete sentences and, optionally, one or more economic

graphs, describe how you would explain the formula to the land owner.

$2.$b$.$ What rotation length would you recommend for this forest land? Justify your

recommendation$\mathrm{.}2$

$1$ Here the expression for $()$ makes use of the formula for $()$ in the definition.

$2$

It is recommended that you try to find the solution for this problem using a graphical approach. You are free to

choose your own graphing tool. Options include a graphing calculator and computer graphical tools such as Excel,

Wolfram Alpha, or R$.$

$2$ of $2$

$2.$c$.$ Suppose that, in order to promote conservation, a harvest tax is imposed that increases

the fixed costs of harvest by close to $50\%($so now $=$$$150$ per acre$).$ Given this change,

how would you advise the land owner to adjust the rotation length for this forest land

$($if at all$)?$ Provide supporting calculations and, optionally, relevant economic graphs to

justify your response