The cost function for producing ethanol from municipal waste​ (wastehol) is 1000+10q2 where q is in​ millions/gallons per year. The demand for wastehol is currently perfectly inelastic at 5 million gallons per year. Assume that producers of wastehol are perfectly competitive. California is deciding whether to convert all wastehol producers into a regulated wastehol utility.  If wastehol is a regulated monopoly utility with the cost function​ above, what price would regulators set as the price of ​wastehol? Now assume that the wasteahol market has boomed and demand has grown to 20​ (again million gallons per​ year). Now what is the regulated price of wastehol? You are the wastehol producer and are trying to decide whther to lobby for deregulating the wastehol industry. If wastehol were​ deregulated, if demand remains​ 20, what would the perfectly competitive price be? If you are a wastehol​ customer, you would prefer a deregulated industry if demand were 20? True/False?

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