Assume that at the current level of output a firm operating in a perfectly-competitive market is producing at a level such that price is greater than marginal cost P greater than M C left parenthesis q right parenthesis. Marginal cost is normally shaped (i.e., "U-shaped"). In this case, the firm
a.
cannot increase profit without raising price
b.
could increase profit by increase the level of output
c.
is currently maximizing profit since it is charging a price that is higher than marginal cost
d.
could increase profit by lowering the level output