The current price of West Texas Intermediate (WTI)crude oilis about $18.27per barrel according to Federal Reserve EconomicData (FRED). This current price represents a crash in prices from about $55.00 last year due to decreased demand from the Covid19 pandemic and price war between OPEC and Russia.Oil drilling is a relatively competitivemarket in the United States solet's assume such. An oil firmhas an average variable cost is $20.00 per bushel and an average total cost is $50.00 per barrel. The oil driller should

a.None of these

b.Operate in the short run at the profit maximizing quantity and exit in the long run.

c.Increase production to join the price war.

d.Operate in the short run at the profit maximizing quantityand in the long run.

e.Shut down in the short run and exit in the long run.