Society may choose to allow firms with market power because

a. consumers may actually prefer their products.

b. the barriers to entry will always keep prices at a competitive level.

c. their high profits can generate a large amount of tax revenue.

The correct option is a. consumers may actually prefer their products.

Companies that have market power usually provide differentiated products that are advertised and marketed. The packaging and design of the products sometimes attract consumers so that they are able to pay a higher price more than their willingness to pay. It is the choice of the consumer that is the reason for the sustenance of companies with market power.