Repeat question 1 parts a through d using a discount rate of 2%, but with the following supply curves. So=a S; = Q. + Q. a. If the discount rate is 2% (r=0.02), and the total stock of the resource at the beginning of time period (Q-bar) is 90 units, determine the allocation of Q in each period that maximizes the Present Value of Net Social Welfare (PVNSW) across both periods. This is known as the "optimal allocation" or "dynamically efficient allocation." b. Calculate the scarcity rent associated with your answer in part a. c. What nominal price should be charged in period 0 to ensure the dynamically efficient allocation is met? This is P. from our classroom example. d. What nominal price should be charged in period 1 to ensure the dynamically efficient allocation is met? This is P", expressed in period 1 dollars from our classroom example, e. Draw the 2-period graph we did in class (excel example on the elc) associated with this problem, label all components including axes, and identify the scarcity rent. Repeat question 1 parts a through d using a discount rate of 2%, but with the following supply curves. So=a S; = Q. + Q. a. If the discount rate is 2% (r=0.02), and the total stock of the resource at the beginning of time period (Q-bar) is 90 units, determine the allocation of Q in each period that maximizes the Present Value of Net Social Welfare (PVNSW) across both periods. This is known as the "optimal allocation" or "dynamically efficient allocation." b. Calculate the scarcity rent associated with your answer in part a. c. What nominal price should be charged in period 0 to ensure the dynamically efficient allocation is met? This is P. from our classroom example. d. What nominal price should be charged in period 1 to ensure the dynamically efficient allocation is met? This is P", expressed in period 1 dollars from our classroom example, e. Draw the 2-period graph we did in class (excel example on the elc) associated with this problem, label all components including axes, and identify the scarcity rent