AFCCost of all factorsof production thatdo not change withoutput spread outover outputProfitMaximisationMC=MRMCCost peradditionalunit ofoutputAbnormalProfitImplicit andexplicit costsareexceeded byrevenueMonopolyOnemajorfirmperfectcompetitionin the longrunCRxthe amountof marketshare xnumber offirms holdProfitDifferencebetweentotal costand totalrevenueATCCost of allfactors ofproductionspread acrossall outputMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsAllocativeEfficiencyP=MCmonopolydiagramwithoutprofitsShortRunAt least onefactor ofproduction isfixedRevenueMaximisationMR=0TCCost of allfactors ofproduction,includingimplicit andexplicitAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputperfectcompetitionin the shortrunOligopolyA few majorfirms sellingsimilarproductsProductiveEfficiencyMC=ATCNormalProfitImplicit andexplicit costsare coveredmonopolisticcompetitionin the shortruncollusiveoligopolydiagramwith profitMRRevenueper extraunit ofoutputEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountTVCCost of allfactors ofproductionthat changewith outputTRPxQLongRunAll factors ofproductionare variablenaturalmonopolymonopoly diagramshowing inefficientallocation ofresources forsocietymonopolisticcompetitionin the longrunTFCCost of allfactors ofproduction thatdoes notchange withoutputtotalcostcurvesgametheoryPerfectCompetitionMany smallfirms sellingidenticalproductsAFCCost of all factorsof production thatdo not change withoutput spread outover outputProfitMaximisationMC=MRMCCost peradditionalunit ofoutputAbnormalProfitImplicit andexplicit costsareexceeded byrevenueMonopolyOnemajorfirmperfectcompetitionin the longrunCRxthe amountof marketshare xnumber offirms holdProfitDifferencebetweentotal costand totalrevenueATCCost of allfactors ofproductionspread acrossall outputMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsAllocativeEfficiencyP=MCmonopolydiagramwithoutprofitsShortRunAt least onefactor ofproduction isfixedRevenueMaximisationMR=0TCCost of allfactors ofproduction,includingimplicit andexplicitAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputperfectcompetitionin the shortrunOligopolyA few majorfirms sellingsimilarproductsProductiveEfficiencyMC=ATCNormalProfitImplicit andexplicit costsare coveredmonopolisticcompetitionin the shortruncollusiveoligopolydiagramwith profitMRRevenueper extraunit ofoutputEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountTVCCost of allfactors ofproductionthat changewith outputTRPxQLongRunAll factors ofproductionare variablenaturalmonopolymonopoly diagramshowing inefficientallocation ofresources forsocietymonopolisticcompetitionin the longrunTFCCost of allfactors ofproduction thatdoes notchange withoutputtotalcostcurvesgametheoryPerfectCompetitionMany smallfirms sellingidenticalproducts

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