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13. It is year 1225 and Easter Islanders are crafting their now well-known gigantic sculptures (moais). To transport them to their final location, they roll the statues over logs of trees. Most villagers work either in the transportation of the statues (loggers) or in farming. Those involved in logging can individually cut down trees and get the logs to the chief in exchange for substantial compensation. The local accountant (the main advisor to the chief) estimates that the cost of producing L logs is given by C(L) =L2 /2 where C(L) is measured in rocks, the local currency. Each log can be sold in exchange for 50 rocks. . How many logs will be produced? b. The village accountant is worried that trees are being overexploited. He recommends to the chief setting a maximum number of trees that can be cut down. What is the optimal number of trees that the accountant should set? c. Considering all loggers as a single group, how many more rocks are they making under the accountants constraint relative to the equilibrium without the accountants recommendation? ONLY ANSWER FOR PART C AND I WANT A DETAILED EXPLANATION PLEASE The answer for part C is 1250 FYI..

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13. It is year 1225 and Easter Islanders are crafting their now well-known gigantic sculptures (moais). To transport them to their final location, they roll the statues over logs of trees. Most villagers work either in the transportation of the statues (loggers) or in farming. Those involved in logging can individually cut down trees and get the logs to the chief in exchange for substantial compensation. The local accountant (the main advisor to the chief) estimates that the cost of producing L logs is given by C(L) =L2 /2 where C(L) is measured in rocks, the local currency. Each log can be sold in exchange for 50 rocks. . How many logs will be produced? b. The village accountant is worried that trees are being overexploited. He recommends to the chief setting a maximum number of trees that can be cut down. What is the optimal number of trees that the accountant should set? c. Considering all loggers as a single group, how many more rocks are they making under the accountants constraint relative to the equilibrium without the accountants recommendation? ONLY ANSWER FOR PART C AND I WANT A DETAILED EXPLANATION PLEASE The answer for part C is 1250 FYI.

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