perfectcompetitionin the shortrunTRPxQtotalcostcurvesTVCCost of allfactors ofproductionthat changewith outputAFCCost of all factorsof production thatdo not change withoutput spread outover outputMCCost peradditionalunit ofoutputProductiveEfficiencyMC=ATCOligopolyA few majorfirms sellingsimilarproductsAbnormalProfitImplicit andexplicit costsareexceeded byrevenuemonopolisticcompetitionin the shortrunMRRevenueper extraunit ofoutputTCCost of allfactors ofproduction,includingimplicit andexplicitATCCost of allfactors ofproductionspread acrossall outputLongRunAll factors ofproductionare variableMonopolyOnemajorfirmTFCCost of allfactors ofproduction thatdoes notchange withoutputAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsProfitMaximisationMC=MRperfectcompetitionin the longruncollusiveoligopolydiagramwith profitAllocativeEfficiencyP=MCmonopoly diagramshowing inefficientallocation ofresources forsocietynaturalmonopolymonopolydiagramwithoutprofitsmonopolisticcompetitionin the longrunProfitDifferencebetweentotal costand totalrevenueRevenueMaximisationMR=0NormalProfitImplicit andexplicit costsare coveredCRxthe amountof marketshare xnumber offirms holdShortRunAt least onefactor ofproduction isfixedPerfectCompetitionMany smallfirms sellingidenticalproductsgametheoryEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountperfectcompetitionin the shortrunTRPxQtotalcostcurvesTVCCost of allfactors ofproductionthat changewith outputAFCCost of all factorsof production thatdo not change withoutput spread outover outputMCCost peradditionalunit ofoutputProductiveEfficiencyMC=ATCOligopolyA few majorfirms sellingsimilarproductsAbnormalProfitImplicit andexplicit costsareexceeded byrevenuemonopolisticcompetitionin the shortrunMRRevenueper extraunit ofoutputTCCost of allfactors ofproduction,includingimplicit andexplicitATCCost of allfactors ofproductionspread acrossall outputLongRunAll factors ofproductionare variableMonopolyOnemajorfirmTFCCost of allfactors ofproduction thatdoes notchange withoutputAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsProfitMaximisationMC=MRperfectcompetitionin the longruncollusiveoligopolydiagramwith profitAllocativeEfficiencyP=MCmonopoly diagramshowing inefficientallocation ofresources forsocietynaturalmonopolymonopolydiagramwithoutprofitsmonopolisticcompetitionin the longrunProfitDifferencebetweentotal costand totalrevenueRevenueMaximisationMR=0NormalProfitImplicit andexplicit costsare coveredCRxthe amountof marketshare xnumber offirms holdShortRunAt least onefactor ofproduction isfixedPerfectCompetitionMany smallfirms sellingidenticalproductsgametheoryEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amount

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.


1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
  1. perfect competition in the short run
  2. PxQ
    TR
  3. total cost curves
  4. Cost of all factors of production that change with output
    TVC
  5. Cost of all factors of production that do not change with output spread out over output
    AFC
  6. Cost per additional unit of output
    MC
  7. MC=ATC
    Productive Efficiency
  8. A few major firms selling similar products
    Oligopoly
  9. Implicit and explicit costs are exceeded by revenue
    Abnormal Profit
  10. monopolistic competition in the short run
  11. Revenue per extra unit of output
    MR
  12. Cost of all factors of production, including implicit and explicit
    TC
  13. Cost of all factors of production spread across all output
    ATC
  14. All factors of production are variable
    Long Run
  15. One major firm
    Monopoly
  16. Cost of all factors of production that does not change with output
    TFC
  17. Cost of all factors of production that change with output spread out over output
    AVC
  18. Many small firms selling differentiated products
    Monopolistic Competition
  19. MC=MR
    Profit Maximisation
  20. perfect competition in the long run
  21. collusive oligopoly diagram with profit
  22. P=MC
    Allocative Efficiency
  23. monopoly diagram showing inefficient allocation of resources for society
  24. natural monopoly
  25. monopoly diagram without profits
  26. monopolistic competition in the long run
  27. Difference between total cost and total revenue
    Profit
  28. MR=0
    Revenue Maximisation
  29. Implicit and explicit costs are covered
    Normal Profit
  30. the amount of market share x number of firms hold
    CRx
  31. At least one factor of production is fixed
    Short Run
  32. Many small firms selling identical products
    Perfect Competition
  33. game theory
  34. Benefit of costs decreasing as output increases to a large amount
    Economies of Scale