(2) Please contrast the RCEP with the CPTPP. (10%)

(1) Please show the present discounted value (PDV) of the treeowner's profit when the tree is planted. \( (10\%) \)

(2) If the real interest rate is 0.05, please find the optimal harvesting age. (5%)

(3) If the real interest rate rises to 0.06, again find the optimal harvesting age. (5%)

(4) If we consider both answers from (2) and (3), what is your explanation? (5%)

(1) derive each firm's quantity reaction function. \( (10\%) \)

(2) determine equilibrium values of price, quantity and profit for each firm. (15%)

(1) flexible exchange rate regime. (10%)

(2) fixed exchange rate regime. (10%)

(1) Suppose both U.S. and China have two trade strategies to follow: free trade or protection, e.g., imposing tariff on the products of the other country. Suppose also that the net payoffs of the combinations of the strategies of both U.S. and China are summarized in the following table:If both U.S. and China act individually, what is the best trade strategy for each country? Please analyze the best strategy for each country according to the above table. (10%)

(2) If both U.S. and China could cooperate with formulating their respective trade strategies, what is the best trade strategy for each country? Please analyze the best strategy for each country according to the above table. What are possible ways for both U.S. and China to cooperate with formulating their respective trade strategies? (15%)

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