Some monopolistic competitors earn positive economic profits in the long run because a. there are high barriers to entry in monopolistic competition. b. they have successfully differentiated their products from their competitors' products. c. there is easy entry and exit. d. b and c e. none of the above

In a monopoly, only the company that dominates the market can make a profit because it is difficult for other companies to compete (option A)

What is monopoly?

A monopoly is a term that refers to a situation of legal privilege in which a producer or economic agent (monopolist) has great market power and is the only one in an industry.

For example: A company that produces cars and is the only one in a country that has all the means to produce and market cars. For other companies it is difficult to enter a consolidated market to compete against that company.

According to the above, it can be inferred that for new companies there are great barriers to compete against a company that has a monopoly.

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