12. Suppose that owning and operating a commercial fishing vessel costs c= $1 million/year. The alternative used of these funds would earn a rate of return of r=10%/year. The production function for the catch, in pounds of fish per vessel, is given by q= (1.1 million) - (0.01 million)*n, where n denotes the number of fishing vessels in the fishery. The catch sells for p=$11/pound. a. Under open access, determine the number of fishing vessels, the catch, and total profit (counting all vessels) in the fishery. b. Determine the efficient number of fishing vessels, the catch, and total profit (counting all vessels) in the fishery. c. Determine the economic loss from open access, relative to the efficient solution