OligopolyA few majorfirms sellingsimilarproductsAbnormalProfitImplicit andexplicit costsareexceeded byrevenuetotalcostcurvesRevenueMaximisationMR=0naturalmonopolymonopolisticcompetitionin the shortrunTRPxQTCCost of allfactors ofproduction,includingimplicit andexplicitTFCCost of allfactors ofproduction thatdoes notchange withoutputLongRunAll factors ofproductionare variableMRRevenueper extraunit ofoutputMCCost peradditionalunit ofoutputPerfectCompetitionMany smallfirms sellingidenticalproductsEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountmonopolisticcompetitionin the longrunmonopolydiagramwithoutprofitsperfectcompetitionin the longrunProfitDifferencebetweentotal costand totalrevenueNormalProfitImplicit andexplicit costsare coveredmonopoly diagramshowing inefficientallocation ofresources forsocietyCRxthe amountof marketshare xnumber offirms holdShortRunAt least onefactor ofproduction isfixedATCCost of allfactors ofproductionspread acrossall outputProductiveEfficiencyMC=ATCProfitMaximisationMC=MRMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputTVCCost of allfactors ofproductionthat changewith outputAllocativeEfficiencyP=MCMonopolyOnemajorfirmgametheoryAFCCost of all factorsof production thatdo not change withoutput spread outover outputperfectcompetitionin the shortruncollusiveoligopolydiagramwith profitOligopolyA few majorfirms sellingsimilarproductsAbnormalProfitImplicit andexplicit costsareexceeded byrevenuetotalcostcurvesRevenueMaximisationMR=0naturalmonopolymonopolisticcompetitionin the shortrunTRPxQTCCost of allfactors ofproduction,includingimplicit andexplicitTFCCost of allfactors ofproduction thatdoes notchange withoutputLongRunAll factors ofproductionare variableMRRevenueper extraunit ofoutputMCCost peradditionalunit ofoutputPerfectCompetitionMany smallfirms sellingidenticalproductsEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountmonopolisticcompetitionin the longrunmonopolydiagramwithoutprofitsperfectcompetitionin the longrunProfitDifferencebetweentotal costand totalrevenueNormalProfitImplicit andexplicit costsare coveredmonopoly diagramshowing inefficientallocation ofresources forsocietyCRxthe amountof marketshare xnumber offirms holdShortRunAt least onefactor ofproduction isfixedATCCost of allfactors ofproductionspread acrossall outputProductiveEfficiencyMC=ATCProfitMaximisationMC=MRMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputTVCCost of allfactors ofproductionthat changewith outputAllocativeEfficiencyP=MCMonopolyOnemajorfirmgametheoryAFCCost of all factorsof production thatdo not change withoutput spread outover outputperfectcompetitionin the shortruncollusiveoligopolydiagramwith profit

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