The underlined verb form "has written" is in the present perfect tense. It states an action that has just been completed in the present.
The given sentence is grammatically correct, but factually incorrect. This is because Shakespeare has not completed the action 'has written' in the present. Hence the underlined verb form must be changed and option D is incorrect.
Option C: 'Wrote' is in the simple past tense and refers to an action which completed in the past. It agrees to the given sentence that also refers to a completed action. Hence C is correct.
Option A: 'Has been writing' is in the present perfect continuous tense. It states an action which began in the past and is still continuing in the present. However, 'The Merchant of Venice' was written and completed centuries ago. Hence A is incorrect.
Option B: 'Writes' is in the simple present tense. It refers to a habit or custom, whereas the sentence refers to a past action. Hence B is incorrect.