monopoly diagramshowing inefficientallocation ofresources forsocietyRevenueMaximisationMR=0AbnormalProfitImplicit andexplicit costsareexceeded byrevenueTFCCost of allfactors ofproduction thatdoes notchange withoutputnaturalmonopolyTCCost of allfactors ofproduction,includingimplicit andexplicitmonopolisticcompetitionin the longrunShortRunAt least onefactor ofproduction isfixedProductiveEfficiencyMC=ATCperfectcompetitionin the shortrunProfitMaximisationMC=MROligopolyA few majorfirms sellingsimilarproductsTVCCost of allfactors ofproductionthat changewith outputmonopolisticcompetitionin the shortrunMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsMRRevenueper extraunit ofoutputtotalcostcurvesAFCCost of all factorsof production thatdo not change withoutput spread outover outputTRPxQAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputNormalProfitImplicit andexplicit costsare coveredMCCost peradditionalunit ofoutputcollusiveoligopolydiagramwith profitCRxthe amountof marketshare xnumber offirms holdATCCost of allfactors ofproductionspread acrossall outputLongRunAll factors ofproductionare variablegametheoryProfitDifferencebetweentotal costand totalrevenuePerfectCompetitionMany smallfirms sellingidenticalproductsperfectcompetitionin the longrunAllocativeEfficiencyP=MCMonopolyOnemajorfirmEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountmonopolydiagramwithoutprofitsmonopoly diagramshowing inefficientallocation ofresources forsocietyRevenueMaximisationMR=0AbnormalProfitImplicit andexplicit costsareexceeded byrevenueTFCCost of allfactors ofproduction thatdoes notchange withoutputnaturalmonopolyTCCost of allfactors ofproduction,includingimplicit andexplicitmonopolisticcompetitionin the longrunShortRunAt least onefactor ofproduction isfixedProductiveEfficiencyMC=ATCperfectcompetitionin the shortrunProfitMaximisationMC=MROligopolyA few majorfirms sellingsimilarproductsTVCCost of allfactors ofproductionthat changewith outputmonopolisticcompetitionin the shortrunMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsMRRevenueper extraunit ofoutputtotalcostcurvesAFCCost of all factorsof production thatdo not change withoutput spread outover outputTRPxQAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputNormalProfitImplicit andexplicit costsare coveredMCCost peradditionalunit ofoutputcollusiveoligopolydiagramwith profitCRxthe amountof marketshare xnumber offirms holdATCCost of allfactors ofproductionspread acrossall outputLongRunAll factors ofproductionare variablegametheoryProfitDifferencebetweentotal costand totalrevenuePerfectCompetitionMany smallfirms sellingidenticalproductsperfectcompetitionin the longrunAllocativeEfficiencyP=MCMonopolyOnemajorfirmEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountmonopolydiagramwithoutprofits

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