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In my paper about climate change and grape growers' revenue/profit in the European Union, I specify a log-linear equation and find that ln(pi)=0.221*T-0.006*T^2, where Temp is measured in °C. a) Based on these coefficients, calculate the profit maximizing temperature. Provide a precise number with 3 decimals! b) Now assume I had used a linear equation and had found the same coefficients, that is pi=0.221*T-0.006*T^2+.... What is the profit maximizing temperature now? c) Based of the original log-linear equation ln(pi)=0.221*T-0.006*Temp^2, what is the profit if a plot of land experiences a (growing season) temperature of 24°C. What is the profit if temperatures increase to 26°C? What is the percentage decrease in profits?
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