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The stock price of Beavers, a logging firm, tends to increase by 50% on average when the economy is booming

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The stock price of Beavers, a logging firm, tends to increase by 50% on average when the economy is booming. When the economy is weak, it goes down by 30%. At the same time, the market portfolio tends to increase by 57% in booms and decrease by 35% during periods of weak economy.

1. What is the beta of the firm? How would you interpret it?

2. What is the beta of the firm if it bears only idiosyncratic, firm-specific risk?