Timber price of Douglas fir is $4/cubic foot, planting cost is $1,500, marginal harvest cost (S/cubic foot) is $2, and discounted factor r = 0.05. First, fill out the table below. Round the numbers to two decimal places. No dollar sign. No thousands separators. Volume (cubic Present value of Present Value of Net present timber total cost value of Timber Age (years) feet) 10 694 20 30 40 [b] 1912 3558 5536 Ξ Ξ Ξ Ξ [a] [d] [9] (i) Second, conclude that the optimal harvesting time given the information here is when the tree reaches age [n]. Type the age as an integer [c] [k] EEE

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
icon
Related questions
Question

please fill out a-n

Timber price of Douglas fir is $4/cubic foot, planting cost is $1,500, marginal harvest cost (S/cubic foot) is $2, and discounted factor r = 0.05.
First, fill out the table below. Round the numbers to two decimal places. No dollar sign. No thousands separators.
Age (years)
10
20
30
40
Volume (cubic Present value of Present Value of Net present
feet)
timber
total cost.
value of Timber
694
1912
3558
5536
[a]
[d]
[9]
[i]
Ξ Ξ Ξ Ξ
[c]
[f]
0
[m]
Second, conclude that the optimal harvesting time given the information here is when the tree reaches age [n]. Type the age as an integer
Transcribed Image Text:Timber price of Douglas fir is $4/cubic foot, planting cost is $1,500, marginal harvest cost (S/cubic foot) is $2, and discounted factor r = 0.05. First, fill out the table below. Round the numbers to two decimal places. No dollar sign. No thousands separators. Age (years) 10 20 30 40 Volume (cubic Present value of Present Value of Net present feet) timber total cost. value of Timber 694 1912 3558 5536 [a] [d] [9] [i] Ξ Ξ Ξ Ξ [c] [f] 0 [m] Second, conclude that the optimal harvesting time given the information here is when the tree reaches age [n]. Type the age as an integer
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Knowledge Booster
Property Damage
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education