Learn Dutch: Wij maken het zo goedkoop mogelijk. - We are making it as cheap as possible.

In Dutch, the standard way to say "as [adjective] as possible" is zo [adjective] mogelijk. You literally say "so cheap possible" rather than translating the English "as ... as" word for word.

The English translation says "We are making", but the Dutch sentence just says Wij maken. Where is the "are"?

Dutch rarely uses a continuous form like "are making". The simple present tense Wij maken covers both "We make" and "We are making". You only use continuous forms in Dutch if you really need to stress that an action is happening right at this very moment.

Why use Wij instead of We here?

You can use either! Wij is the emphatic form, which puts a slight stress on the fact that we are the ones making it cheap, perhaps compared to a competitor. If you just want to state a neutral fact, the unstressed we is perfectly fine.

How can I remember the word goedkoop?

It helps to break it down! Goedkoop is made of two parts: goed (good) and koop (buy or purchase). So something that is cheap is literally a "good buy".