Consider the following information for a perfectly competitive firm Assume that Q equals the level of output and all costs are economic costs Market price = $120 Total cost = 200 + 409 + 0.5 ( Q squared ) Marginal cost - 40 + Q 4 4 . At the profit - maximizing or loss - minimizing output level economic profit would equal $120 $3 0 00 $6 600 $9600 45 . Under these conditions , the firm should produce an output of ( zero ( ie , shutdown ) 0 40 0 60 6 80