A firm is considering entering a product market and estimates its cost function would be as shown below: Output 34 35 36 37 38 39 Average Cost 506 505 505 506 508 510 What is the optimal level of output and the total profit (or loss) incurred if the product's selling price is $540 per unit? The optimal level of output is 36 units, and the total profit would be $1,260. a. b. The optimal level of output is 35 units, and the total profit would be -$1,258. The optimal level of output is 37 units, and the total profit would be -$1,443 (a loss). O c. O d. The optimal level of output is 36 units, and the total profit would be - $1,260 (a loss). The optimal level of output is 35 units, and the total profit would be $1,258. O e. The optimal level of output is 35 units, and the total profit would be -$1,225 (a loss). O f. o The optimal level of output is 35 units, and the total profit would be $1,225. Oh. The optimal level of output is 37 units, and the total profit would be $1,443