Based on the following table, how many barrels of oil is efficient? How might transaction costs prevent oil companies and fishers from achieving that outcome? Barrels Oil Number Fish of oil company of fish industry(10 total profit($) firms) total profit ($) 0 0 10 10 110 1 50 9 105 2 90 7 85 3 120 4 50 50 4 140 0 0 Do you think output-based measures of welfare are flawed? Why? Discuss two existing alternative measures that you would rather prefer.