What action is Launcelot currently contemplating?
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He is considering leaving his master, Shylock. His conscience tells him that he has no good reason to leave, and that Shylock is a decent master and he should not leave. But he seems to think that he would have an easier time if Bassanio were his master. There is also some underlying prejudice there because of the fact that Shylock is Jewish. He does eventually decide to leave.