There is a forest economy. In this forest economy, timber stands with the same quality and is privately owned. Then we suppose the net price of harvested timber is p, and the cost of planting a new stand of trees is c. Discount rate is r. (p and c are constant over time.) 1) Find and explain Faustmann's rule for the optimal timber rotation for a representative stand of trees, denoted by T. 2) How and why does the optimal rotation change if (a) r increases, (b) c increases, and (c) p increases