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4. Bonus (1 pt): Consider the model of single-harvest silviculture (forestry) from class. Suppose that the harvest price is $50 per unit biomass (e.g., tonnes),

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4. Bonus (1 pt): Consider the model of single-harvest silviculture (forestry) from class. Suppose that the harvest price is $50 per unit biomass (e.g., tonnes), the planting cost is $2000, the initial biomass after planting is 80 = 1000, the biomass in year t is: B(t) = 3080-\" (e is the base of the natural logarithm: e = 2.71828); and the continuous discount rate is r= 0.05. As long as the per-capita growth rate of the population [B'(t)/B(t)] is larger than the discount rate r, the value of the stand of trees grows each year if you don't harvest it. a. If you were to wait until B'(t)/B(t) = r to harvest this stand, how many years would you have to wait? b. Explain, in 2-3 sentences max., how your result from (a) represents a paradox (a paradox is a seemingly self-contradictory or absurd statement that may prove true or well-founded when investigated)

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