Suppose that you estimate the following cost function for your company, which is a monopolistically competitive firm: TC=80Q-4Q^2+0.25Q3, and the following demand curve for your product: P=80-2Q.

I've determined that AC=MC at Q=8 and Cost=$64.

How many units of output will you need to produce and what price will you charge for each unit?

Is the company making a profit or loss at the suggested output level? How much?