ATCCost of allfactors ofproductionspread acrossall outputmonopolisticcompetitionin the longrunAbnormalProfitImplicit andexplicit costsareexceeded byrevenuegametheoryOligopolyA few majorfirms sellingsimilarproductsLongRunAll factors ofproductionare variablePerfectCompetitionMany smallfirms sellingidenticalproductscollusiveoligopolydiagramwith profitmonopolydiagramwithoutprofitsRevenueMaximisationMR=0AllocativeEfficiencyP=MCMRRevenueper extraunit ofoutputTCCost of allfactors ofproduction,includingimplicit andexplicitnaturalmonopolyTRPxQNormalProfitImplicit andexplicit costsare coveredTVCCost of allfactors ofproductionthat changewith outputMonopolyOnemajorfirmmonopoly diagramshowing inefficientallocation ofresources forsocietyAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsTFCCost of allfactors ofproduction thatdoes notchange withoutputmonopolisticcompetitionin the shortrunMCCost peradditionalunit ofoutputCRxthe amountof marketshare xnumber offirms holdProductiveEfficiencyMC=ATCProfitMaximisationMC=MREconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountperfectcompetitionin the longrunProfitDifferencebetweentotal costand totalrevenuetotalcostcurvesShortRunAt least onefactor ofproduction isfixedAFCCost of all factorsof production thatdo not change withoutput spread outover outputperfectcompetitionin the shortrunATCCost of allfactors ofproductionspread acrossall outputmonopolisticcompetitionin the longrunAbnormalProfitImplicit andexplicit costsareexceeded byrevenuegametheoryOligopolyA few majorfirms sellingsimilarproductsLongRunAll factors ofproductionare variablePerfectCompetitionMany smallfirms sellingidenticalproductscollusiveoligopolydiagramwith profitmonopolydiagramwithoutprofitsRevenueMaximisationMR=0AllocativeEfficiencyP=MCMRRevenueper extraunit ofoutputTCCost of allfactors ofproduction,includingimplicit andexplicitnaturalmonopolyTRPxQNormalProfitImplicit andexplicit costsare coveredTVCCost of allfactors ofproductionthat changewith outputMonopolyOnemajorfirmmonopoly diagramshowing inefficientallocation ofresources forsocietyAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsTFCCost of allfactors ofproduction thatdoes notchange withoutputmonopolisticcompetitionin the shortrunMCCost peradditionalunit ofoutputCRxthe amountof marketshare xnumber offirms holdProductiveEfficiencyMC=ATCProfitMaximisationMC=MREconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountperfectcompetitionin the longrunProfitDifferencebetweentotal costand totalrevenuetotalcostcurvesShortRunAt least onefactor ofproduction isfixedAFCCost of all factorsof production thatdo not change withoutput spread outover outputperfectcompetitionin the shortrun

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