claude's copper clappers sells clappers for $40 each in a perfectly competitive market. at its present level of output, claude's marginal cost is $39, average variable cost is $25, and average total cost is $45. to improve his profit or loss situation, claude should question 10 options: a) reduce output but not to zero. b) shut down. c) raise the price. d) increase output. e) continue to produce the present level of output.