[So I am noticing that the last month, my earnings per click have dropped quite a bit. I used to get paid over a dollar for most clicks, but now it’s down to about half. The traffic and CTR are still about the same. Is there a way to figure out with advertisers who are giving me the poor payout so that I could block them? Or is that a bad idea?]
I believe you should do the exact opposite of what you are contemplating. Instead of blocking advertisers, you should be focused on attracting advertisers.
AdSense is an auction-based platform. Blocking advertisers only serves to lower the competition for your ad space thereby lowering the bids required to purchase your ad space. Lower bids result in lower EPC.
Attract more advertisers to your website by building more targeted traffic. The more targeted your traffic the higher advertisers will bid for your ad space.