TCCost of allfactors ofproduction,includingimplicit andexplicitLongRunAll factors ofproductionare variablecollusiveoligopolydiagramwith profitShortRunAt least onefactor ofproduction isfixedPerfectCompetitionMany smallfirms sellingidenticalproductsTVCCost of allfactors ofproductionthat changewith outputAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputMonopolyOnemajorfirmProductiveEfficiencyMC=ATCAbnormalProfitImplicit andexplicit costsareexceeded byrevenueOligopolyA few majorfirms sellingsimilarproductsmonopolisticcompetitionin the longrunmonopolydiagramwithoutprofitsMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsTRPxQRevenueMaximisationMR=0CRxthe amountof marketshare xnumber offirms holdProfitMaximisationMC=MRNormalProfitImplicit andexplicit costsare coveredProfitDifferencebetweentotal costand totalrevenuetotalcostcurvesgametheoryMRRevenueper extraunit ofoutputEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountmonopoly diagramshowing inefficientallocation ofresources forsocietyMCCost peradditionalunit ofoutputATCCost of allfactors ofproductionspread acrossall outputmonopolisticcompetitionin the shortrunAFCCost of all factorsof production thatdo not change withoutput spread outover outputAllocativeEfficiencyP=MCperfectcompetitionin the longrunnaturalmonopolyTFCCost of allfactors ofproduction thatdoes notchange withoutputperfectcompetitionin the shortrunTCCost of allfactors ofproduction,includingimplicit andexplicitLongRunAll factors ofproductionare variablecollusiveoligopolydiagramwith profitShortRunAt least onefactor ofproduction isfixedPerfectCompetitionMany smallfirms sellingidenticalproductsTVCCost of allfactors ofproductionthat changewith outputAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputMonopolyOnemajorfirmProductiveEfficiencyMC=ATCAbnormalProfitImplicit andexplicit costsareexceeded byrevenueOligopolyA few majorfirms sellingsimilarproductsmonopolisticcompetitionin the longrunmonopolydiagramwithoutprofitsMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsTRPxQRevenueMaximisationMR=0CRxthe amountof marketshare xnumber offirms holdProfitMaximisationMC=MRNormalProfitImplicit andexplicit costsare coveredProfitDifferencebetweentotal costand totalrevenuetotalcostcurvesgametheoryMRRevenueper extraunit ofoutputEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountmonopoly diagramshowing inefficientallocation ofresources forsocietyMCCost peradditionalunit ofoutputATCCost of allfactors ofproductionspread acrossall outputmonopolisticcompetitionin the shortrunAFCCost of all factorsof production thatdo not change withoutput spread outover outputAllocativeEfficiencyP=MCperfectcompetitionin the longrunnaturalmonopolyTFCCost of allfactors ofproduction thatdoes notchange withoutputperfectcompetitionin the shortrun

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