The equations below show you the firm's demand function, the MR function, the TC function and the level of marginal costs.Using this information, calculate the profit (or loss) at the profit maximizing quantity.Please ensure that you show detailed calculations!

• Q = 540 - P is the estimated demand equation.
• The marginal revenue (MR) function is described by the equation 540 - 2Q.
• The estimated total cost (TC) function is given by the simplistic equation 150 + 12Q.
• Therefore, we assume that marginal cost is constant at $12.