CRxthe amountof marketshare xnumber offirms holdPerfectCompetitionMany smallfirms sellingidenticalproductsTVCCost of allfactors ofproductionthat changewith outputAFCCost of all factorsof production thatdo not change withoutput spread outover outputTFCCost of allfactors ofproduction thatdoes notchange withoutputNormalProfitImplicit andexplicit costsare coveredLongRunAll factors ofproductionare variableProfitMaximisationMC=MRnaturalmonopolymonopolydiagramwithoutprofitsOligopolyA few majorfirms sellingsimilarproductsMRRevenueper extraunit ofoutputtotalcostcurvesProfitDifferencebetweentotal costand totalrevenueAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountMonopolyOnemajorfirmMCCost peradditionalunit ofoutputShortRunAt least onefactor ofproduction isfixedcollusiveoligopolydiagramwith profitAllocativeEfficiencyP=MCMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsmonopolisticcompetitionin the longrunmonopolisticcompetitionin the shortrunTCCost of allfactors ofproduction,includingimplicit andexplicitperfectcompetitionin the longrunTRPxQperfectcompetitionin the shortrunATCCost of allfactors ofproductionspread acrossall outputmonopoly diagramshowing inefficientallocation ofresources forsocietyAbnormalProfitImplicit andexplicit costsareexceeded byrevenueRevenueMaximisationMR=0gametheoryProductiveEfficiencyMC=ATCCRxthe amountof marketshare xnumber offirms holdPerfectCompetitionMany smallfirms sellingidenticalproductsTVCCost of allfactors ofproductionthat changewith outputAFCCost of all factorsof production thatdo not change withoutput spread outover outputTFCCost of allfactors ofproduction thatdoes notchange withoutputNormalProfitImplicit andexplicit costsare coveredLongRunAll factors ofproductionare variableProfitMaximisationMC=MRnaturalmonopolymonopolydiagramwithoutprofitsOligopolyA few majorfirms sellingsimilarproductsMRRevenueper extraunit ofoutputtotalcostcurvesProfitDifferencebetweentotal costand totalrevenueAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountMonopolyOnemajorfirmMCCost peradditionalunit ofoutputShortRunAt least onefactor ofproduction isfixedcollusiveoligopolydiagramwith profitAllocativeEfficiencyP=MCMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsmonopolisticcompetitionin the longrunmonopolisticcompetitionin the shortrunTCCost of allfactors ofproduction,includingimplicit andexplicitperfectcompetitionin the longrunTRPxQperfectcompetitionin the shortrunATCCost of allfactors ofproductionspread acrossall outputmonopoly diagramshowing inefficientallocation ofresources forsocietyAbnormalProfitImplicit andexplicit costsareexceeded byrevenueRevenueMaximisationMR=0gametheoryProductiveEfficiencyMC=ATC

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