monopolydiagramwithoutprofitsShortRunAt least onefactor ofproduction isfixedMCCost peradditionalunit ofoutputAllocativeEfficiencyP=MCProfitDifferencebetweentotal costand totalrevenueMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsMRRevenueper extraunit ofoutputTVCCost of allfactors ofproductionthat changewith outputCRxthe amountof marketshare xnumber offirms holdnaturalmonopolymonopolisticcompetitionin the shortrunMonopolyOnemajorfirmTRPxQProductiveEfficiencyMC=ATCtotalcostcurvesATCCost of allfactors ofproductionspread acrossall outputNormalProfitImplicit andexplicit costsare coveredRevenueMaximisationMR=0AFCCost of all factorsof production thatdo not change withoutput spread outover outputOligopolyA few majorfirms sellingsimilarproductsAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputTCCost of allfactors ofproduction,includingimplicit andexplicitmonopoly diagramshowing inefficientallocation ofresources forsocietyTFCCost of allfactors ofproduction thatdoes notchange withoutputAbnormalProfitImplicit andexplicit costsareexceeded byrevenueEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountperfectcompetitionin the shortrunmonopolisticcompetitionin the longrunProfitMaximisationMC=MRgametheorycollusiveoligopolydiagramwith profitLongRunAll factors ofproductionare variablePerfectCompetitionMany smallfirms sellingidenticalproductsperfectcompetitionin the longrunmonopolydiagramwithoutprofitsShortRunAt least onefactor ofproduction isfixedMCCost peradditionalunit ofoutputAllocativeEfficiencyP=MCProfitDifferencebetweentotal costand totalrevenueMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsMRRevenueper extraunit ofoutputTVCCost of allfactors ofproductionthat changewith outputCRxthe amountof marketshare xnumber offirms holdnaturalmonopolymonopolisticcompetitionin the shortrunMonopolyOnemajorfirmTRPxQProductiveEfficiencyMC=ATCtotalcostcurvesATCCost of allfactors ofproductionspread acrossall outputNormalProfitImplicit andexplicit costsare coveredRevenueMaximisationMR=0AFCCost of all factorsof production thatdo not change withoutput spread outover outputOligopolyA few majorfirms sellingsimilarproductsAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputTCCost of allfactors ofproduction,includingimplicit andexplicitmonopoly diagramshowing inefficientallocation ofresources forsocietyTFCCost of allfactors ofproduction thatdoes notchange withoutputAbnormalProfitImplicit andexplicit costsareexceeded byrevenueEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountperfectcompetitionin the shortrunmonopolisticcompetitionin the longrunProfitMaximisationMC=MRgametheorycollusiveoligopolydiagramwith profitLongRunAll factors ofproductionare variablePerfectCompetitionMany smallfirms sellingidenticalproductsperfectcompetitionin the longrun

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