TRPxQperfectcompetitionin the shortrunTVCCost of allfactors ofproductionthat changewith outputCRxthe amountof marketshare xnumber offirms holdMonopolyOnemajorfirmLongRunAll factors ofproductionare variableNormalProfitImplicit andexplicit costsare coveredmonopolisticcompetitionin the longrunShortRunAt least onefactor ofproduction isfixedEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountAFCCost of all factorsof production thatdo not change withoutput spread outover outputAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsATCCost of allfactors ofproductionspread acrossall outputProfitDifferencebetweentotal costand totalrevenuemonopolisticcompetitionin the shortrunTFCCost of allfactors ofproduction thatdoes notchange withoutputcollusiveoligopolydiagramwith profitOligopolyA few majorfirms sellingsimilarproductsgametheoryTCCost of allfactors ofproduction,includingimplicit andexplicitAbnormalProfitImplicit andexplicit costsareexceeded byrevenueMRRevenueper extraunit ofoutputProductiveEfficiencyMC=ATCmonopoly diagramshowing inefficientallocation ofresources forsocietyMCCost peradditionalunit ofoutputRevenueMaximisationMR=0totalcostcurvesperfectcompetitionin the longrunAllocativeEfficiencyP=MCmonopolydiagramwithoutprofitsnaturalmonopolyProfitMaximisationMC=MRPerfectCompetitionMany smallfirms sellingidenticalproductsTRPxQperfectcompetitionin the shortrunTVCCost of allfactors ofproductionthat changewith outputCRxthe amountof marketshare xnumber offirms holdMonopolyOnemajorfirmLongRunAll factors ofproductionare variableNormalProfitImplicit andexplicit costsare coveredmonopolisticcompetitionin the longrunShortRunAt least onefactor ofproduction isfixedEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountAFCCost of all factorsof production thatdo not change withoutput spread outover outputAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsATCCost of allfactors ofproductionspread acrossall outputProfitDifferencebetweentotal costand totalrevenuemonopolisticcompetitionin the shortrunTFCCost of allfactors ofproduction thatdoes notchange withoutputcollusiveoligopolydiagramwith profitOligopolyA few majorfirms sellingsimilarproductsgametheoryTCCost of allfactors ofproduction,includingimplicit andexplicitAbnormalProfitImplicit andexplicit costsareexceeded byrevenueMRRevenueper extraunit ofoutputProductiveEfficiencyMC=ATCmonopoly diagramshowing inefficientallocation ofresources forsocietyMCCost peradditionalunit ofoutputRevenueMaximisationMR=0totalcostcurvesperfectcompetitionin the longrunAllocativeEfficiencyP=MCmonopolydiagramwithoutprofitsnaturalmonopolyProfitMaximisationMC=MRPerfectCompetitionMany smallfirms sellingidenticalproducts

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