7. The table below provides information about the growth of a pine forest in Georgia. The price ofthe harvested timber is $40 per cubic foot and the forest only provides timber benefits.Age (years)Current annualincrementVolume (cubic feet)Mean annual increment108141,99281.481.42099.6117.8144.63,4385,0566,75030114.640126.4161.850135140.4169.4167.460708,4249,98211.32812,366142.6141.6155.8134.68090100137.4103.813,000130119.4105.663.411013,13413.412012.672-46.2(A) When should the forest be harvested if the objective is to maximize the average annual timbervolume growth (l,e., biological rotation)?(B) What are two problems with using this rotation age to manage forest lands?CI Will this rotation age be longer or shorter than the rotation age that makimizes the present valueof the total timber income over multiple rotations? Why?

We are going to use the given table of benefits from timber forest across the life time of it, to…

7. The table below provides information about the growth of a pine forest in Georgia. The price of the harvested timber is $40 per cubic foot and the forest only provides timber benefits. Current annual increment Age (years) Volume (cubic feet) Mean annual increment 81.4 814 1,992 3,438 5,056 6,750 8,424 81.4 117.8 144.6 10 20 30 99.6 114.6 40 126.4 135 161.8 50 169.4 167.4 60 70 140.4 142.6 9,982 11.328 155.8 80 141.6 137.4 134.6 90 12,366 13,000 13,134 12,672 103.8 100 130 119.4 63.4 110 13.4 120 105.6 -46.2 (A) When should the forest be harvested if the objective is to maximize the average annual timber volume growth fl.e. biological rotation)? (B)What are two problems with using this rotation age to manage forest lands? C) Will this rotation age be longer or shorter than the rotation age thatmakimizes the present value of the total timber income over multiple rotations? Why?

7. The table below provides information about the growth of a pine forest in Georgia. The price of the harvested timber is $40 per cubic foot and the forest only provides timber benefits. Current annual increment Age (years) Volume (cubic feet) Mean annual increment 81.4 814 1,992 3,438 5,056 6,750 8,424 81.4 117.8 144.6 10 20 30 99.6 114.6 40 126.4 135 161.8 50 169.4 167.4 60 70 140.4 142.6 9,982 11.328 155.8 80 141.6 137.4 134.6 90 12,366 13,000 13,134 12,672 103.8 100 130 119.4 63.4 110 13.4 120 105.6 -46.2 (A) When should the forest be harvested if the objective is to maximize the average annual timber volume growth fl.e. biological rotation)? (B)What are two problems with using this rotation age to manage forest lands? C) Will this rotation age be longer or shorter than the rotation age thatmakimizes the present value of the total timber income over multiple rotations? Why?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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