Economiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountMonopolyOnemajorfirmAllocativeEfficiencyP=MCAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputperfectcompetitionin the longrunmonopolydiagramwithoutprofitsperfectcompetitionin the shortrunAbnormalProfitImplicit andexplicit costsareexceeded byrevenueMRRevenueper extraunit ofoutputShortRunAt least onefactor ofproduction isfixedmonopolisticcompetitionin the shortrunnaturalmonopolyTRPxQProfitDifferencebetweentotal costand totalrevenueMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsTFCCost of allfactors ofproduction thatdoes notchange withoutputProductiveEfficiencyMC=ATCcollusiveoligopolydiagramwith profitmonopolisticcompetitionin the longrunmonopoly diagramshowing inefficientallocation ofresources forsocietygametheoryTVCCost of allfactors ofproductionthat changewith outputRevenueMaximisationMR=0LongRunAll factors ofproductionare variableMCCost peradditionalunit ofoutputTCCost of allfactors ofproduction,includingimplicit andexplicitOligopolyA few majorfirms sellingsimilarproductstotalcostcurvesNormalProfitImplicit andexplicit costsare coveredPerfectCompetitionMany smallfirms sellingidenticalproductsAFCCost of all factorsof production thatdo not change withoutput spread outover outputATCCost of allfactors ofproductionspread acrossall outputCRxthe amountof marketshare xnumber offirms holdProfitMaximisationMC=MREconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountMonopolyOnemajorfirmAllocativeEfficiencyP=MCAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputperfectcompetitionin the longrunmonopolydiagramwithoutprofitsperfectcompetitionin the shortrunAbnormalProfitImplicit andexplicit costsareexceeded byrevenueMRRevenueper extraunit ofoutputShortRunAt least onefactor ofproduction isfixedmonopolisticcompetitionin the shortrunnaturalmonopolyTRPxQProfitDifferencebetweentotal costand totalrevenueMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsTFCCost of allfactors ofproduction thatdoes notchange withoutputProductiveEfficiencyMC=ATCcollusiveoligopolydiagramwith profitmonopolisticcompetitionin the longrunmonopoly diagramshowing inefficientallocation ofresources forsocietygametheoryTVCCost of allfactors ofproductionthat changewith outputRevenueMaximisationMR=0LongRunAll factors ofproductionare variableMCCost peradditionalunit ofoutputTCCost of allfactors ofproduction,includingimplicit andexplicitOligopolyA few majorfirms sellingsimilarproductstotalcostcurvesNormalProfitImplicit andexplicit costsare coveredPerfectCompetitionMany smallfirms sellingidenticalproductsAFCCost of all factorsof production thatdo not change withoutput spread outover outputATCCost of allfactors ofproductionspread acrossall outputCRxthe amountof marketshare xnumber offirms holdProfitMaximisationMC=MR

Market Power Bingo - Call List

(Print) Use this randomly generated list as your call list when playing the game. There is no need to say the BINGO column name. Place some kind of mark (like an X, a checkmark, a dot, tally mark, etc) on each cell as you announce it, to keep track. You can also cut out each item, place them in a bag and pull words from the bag.


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  1. Benefit of costs decreasing as output increases to a large amount
    Economies of Scale
  2. One major firm
    Monopoly
  3. P=MC
    Allocative Efficiency
  4. Cost of all factors of production that change with output spread out over output
    AVC
  5. perfect competition in the long run
  6. monopoly diagram without profits
  7. perfect competition in the short run
  8. Implicit and explicit costs are exceeded by revenue
    Abnormal Profit
  9. Revenue per extra unit of output
    MR
  10. At least one factor of production is fixed
    Short Run
  11. monopolistic competition in the short run
  12. natural monopoly
  13. PxQ
    TR
  14. Difference between total cost and total revenue
    Profit
  15. Many small firms selling differentiated products
    Monopolistic Competition
  16. Cost of all factors of production that does not change with output
    TFC
  17. MC=ATC
    Productive Efficiency
  18. collusive oligopoly diagram with profit
  19. monopolistic competition in the long run
  20. monopoly diagram showing inefficient allocation of resources for society
  21. game theory
  22. Cost of all factors of production that change with output
    TVC
  23. MR=0
    Revenue Maximisation
  24. All factors of production are variable
    Long Run
  25. Cost per additional unit of output
    MC
  26. Cost of all factors of production, including implicit and explicit
    TC
  27. A few major firms selling similar products
    Oligopoly
  28. total cost curves
  29. Implicit and explicit costs are covered
    Normal Profit
  30. Many small firms selling identical products
    Perfect Competition
  31. Cost of all factors of production that do not change with output spread out over output
    AFC
  32. Cost of all factors of production spread across all output
    ATC
  33. the amount of market share x number of firms hold
    CRx
  34. MC=MR
    Profit Maximisation