Scenario: A monopolistically competitive firm's demand for its product is equal to Qd = 160-P, and its MC curve is equal to MC=20+2Q. Its TC curve is: TC = 20Q + Q2 + 20. What is the profit-maximizing level of outpu(still the same scenario) A monopolistically competitive firm's demand for its product is equal to Qd = 160-P, and its MC curve is equal to MC=20+2Q. Its TC curve is: TC = 20Q + Q2 + 20. In the short run, this firm's profit or losses are:t for this firm in the short run