(b) If the net price per unit volume is \( p=1 \) and the discount rate is \( \delta=0.05 \), what is the optimal single rotation \( T_{S} \), volume at harvest \( Q\left(T_{S}\right) \), and present value \( \pi_{S}\left(T_{S}\right) \) ?
(c) If the cost of replanting is \( c=150 \), what is the optimal Faustmann rotation \( T^{*} \), volume at the Faustmann rotation \( Q\left(T^{*}\right) \), and present value \( \pi\left(T^{*}\right) \) ?
(d) If the price increases to \( p=2 \), what are the new values for \( T_{S} \) and \( T^{*} \) ? Do the new values make sense relative to their values when \( p=1 \) ?
