MCCost peradditionalunit ofoutputMRRevenueper extraunit ofoutputProfitDifferencebetweentotal costand totalrevenuetotalcostcurvesmonopolisticcompetitionin the longrunATCCost of allfactors ofproductionspread acrossall outputTVCCost of allfactors ofproductionthat changewith outputgametheoryEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountmonopolydiagramwithoutprofitsAFCCost of all factorsof production thatdo not change withoutput spread outover outputmonopoly diagramshowing inefficientallocation ofresources forsocietyAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputOligopolyA few majorfirms sellingsimilarproductsProductiveEfficiencyMC=ATCPerfectCompetitionMany smallfirms sellingidenticalproductsMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsmonopolisticcompetitionin the shortrunTRPxQTCCost of allfactors ofproduction,includingimplicit andexplicitnaturalmonopolyRevenueMaximisationMR=0CRxthe amountof marketshare xnumber offirms holdAllocativeEfficiencyP=MCperfectcompetitionin the longrunAbnormalProfitImplicit andexplicit costsareexceeded byrevenueperfectcompetitionin the shortrunMonopolyOnemajorfirmTFCCost of allfactors ofproduction thatdoes notchange withoutputcollusiveoligopolydiagramwith profitNormalProfitImplicit andexplicit costsare coveredShortRunAt least onefactor ofproduction isfixedProfitMaximisationMC=MRLongRunAll factors ofproductionare variableMCCost peradditionalunit ofoutputMRRevenueper extraunit ofoutputProfitDifferencebetweentotal costand totalrevenuetotalcostcurvesmonopolisticcompetitionin the longrunATCCost of allfactors ofproductionspread acrossall outputTVCCost of allfactors ofproductionthat changewith outputgametheoryEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountmonopolydiagramwithoutprofitsAFCCost of all factorsof production thatdo not change withoutput spread outover outputmonopoly diagramshowing inefficientallocation ofresources forsocietyAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputOligopolyA few majorfirms sellingsimilarproductsProductiveEfficiencyMC=ATCPerfectCompetitionMany smallfirms sellingidenticalproductsMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsmonopolisticcompetitionin the shortrunTRPxQTCCost of allfactors ofproduction,includingimplicit andexplicitnaturalmonopolyRevenueMaximisationMR=0CRxthe amountof marketshare xnumber offirms holdAllocativeEfficiencyP=MCperfectcompetitionin the longrunAbnormalProfitImplicit andexplicit costsareexceeded byrevenueperfectcompetitionin the shortrunMonopolyOnemajorfirmTFCCost of allfactors ofproduction thatdoes notchange withoutputcollusiveoligopolydiagramwith profitNormalProfitImplicit andexplicit costsare coveredShortRunAt least onefactor ofproduction isfixedProfitMaximisationMC=MRLongRunAll factors ofproductionare variable

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