Solved: What is the firms profit-maximizing or loss minimizing, Business Management

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What is the firms profit-maximizing or loss minimizing

Supposed that a perfectly competitive firm faces a market price of $5 per unit, and at this price the upward sloping portion of the firm's marginal cost crosses its marginal revenue curve at an output level of 1500 units. If the firm produces 1500 units, its average variable cost equals $5.5 per unit and its average fixed cost equals $.50 per unit.

What is the firms profit-maximizing (or loss minimizing) output level?

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