Electricit de France (EdF) operates nuclear plants in France. Suppose it decides to own uranium mines, a competitive industry, and faces demand P = 300

• Electricité de France (EdF) operates nuclear plants in France. Suppose it decides to own uranium mines, a competitive industry, and faces demand P = 300 – 10Q, where Q is tons of uranium and P is €/ton. Marginal extraction cost is €30. The discount rate is 20%. Assuming there are only 40 tons of uranium remaining in the mine, how much should EdF extract today, and how much a year from now? What will be the price of uranium today and one year from now?