Explain the production of widgets to maximize profit


A perfectly competitive firm facing a price of $10 decides to produce 100 widgets. If its marginal cost of producing the last widget is $12 and it is seeking to maximize profit, the firm should:

A) produce more widgets.
B) produce fewer widgets.
C) continue producing 100 widgets.
D) shut down

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Microeconomics: Explain the production of widgets to maximize profit
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