In the context of a monopoly, what does a firm typically do to maximize its profit when marginal cost equals marginal revenue?

In a monopoly, a firm tries to maximize its profit by adjusting its production level until marginal cost equals marginal revenue. Marginal cost is the cost of producing one more unit of a product, while marginal revenue is the money earned from selling that additional unit. When these two amounts are equal, it means the firm is making the most money possible from its production because producing more would cost more than it earns. For example, if a monopolist sells 100 widgets and finds that producing the 101st widget costs $5 but would only earn $4, it would choose not to produce that extra widget. By finding this balance, the monopolist ensures it is not wasting resources and is maximizing its profits.