If a perfectly competitive firm is producing a quantity where MC < MR,then profit:

A) is maximized.
B) can be increased by increasing production.
C) can be increased by decreasing production.
D) can be increased by decreasing the price.

MC < MR

A condition in economic theory where marginal cost is less than marginal revenue, suggesting that increasing production would be profitable.

Profit Maximized

The point at which a firm achieves the highest possible profit margin, where marginal revenue equals marginal cost.