For a firm to successfully exercise monopoly power to increase its profits, a

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For a firm to successfully exercise monopoly power to increase its profits,

a. there must be a barrier to entry of other sellers into its market.

b. the demand for the firm's product must be strong enough to allow it to cover its costs at the profit-maximizing output.

c. there must be a free entry of sellers into the market.

d. there must be many other sellers in the market seeking to maximize profits.