A monopolist is producing at a point at which marginal cost exceeds marginal revenue. How should it adjust its output to increase profit?

 When marginal cost is greater than marginal revenue, the incremental cost of the last unit produced is greater than incremental revenue.  The firm would increase its profit by not producing the last unit.  It should continue to reduce production, thereby decreasing marginal cost and increasing marginal revenue, until marginal cost is equal to marginal revenue