ProfitMaximisationMC=MRMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsmonopolisticcompetitionin the longrunTRPxQPerfectCompetitionMany smallfirms sellingidenticalproductsMonopolyOnemajorfirmmonopoly diagramshowing inefficientallocation ofresources forsocietyperfectcompetitionin the longrunAFCCost of all factorsof production thatdo not change withoutput spread outover outputOligopolyA few majorfirms sellingsimilarproductsAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputAllocativeEfficiencyP=MCRevenueMaximisationMR=0NormalProfitImplicit andexplicit costsare coveredmonopolydiagramwithoutprofitsLongRunAll factors ofproductionare variabletotalcostcurvesTVCCost of allfactors ofproductionthat changewith outputMCCost peradditionalunit ofoutputShortRunAt least onefactor ofproduction isfixedEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountnaturalmonopolyATCCost of allfactors ofproductionspread acrossall outputgametheoryTCCost of allfactors ofproduction,includingimplicit andexplicitMRRevenueper extraunit ofoutputAbnormalProfitImplicit andexplicit costsareexceeded byrevenueperfectcompetitionin the shortrunProductiveEfficiencyMC=ATCCRxthe amountof marketshare xnumber offirms holdcollusiveoligopolydiagramwith profitTFCCost of allfactors ofproduction thatdoes notchange withoutputmonopolisticcompetitionin the shortrunProfitDifferencebetweentotal costand totalrevenueProfitMaximisationMC=MRMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsmonopolisticcompetitionin the longrunTRPxQPerfectCompetitionMany smallfirms sellingidenticalproductsMonopolyOnemajorfirmmonopoly diagramshowing inefficientallocation ofresources forsocietyperfectcompetitionin the longrunAFCCost of all factorsof production thatdo not change withoutput spread outover outputOligopolyA few majorfirms sellingsimilarproductsAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputAllocativeEfficiencyP=MCRevenueMaximisationMR=0NormalProfitImplicit andexplicit costsare coveredmonopolydiagramwithoutprofitsLongRunAll factors ofproductionare variabletotalcostcurvesTVCCost of allfactors ofproductionthat changewith outputMCCost peradditionalunit ofoutputShortRunAt least onefactor ofproduction isfixedEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountnaturalmonopolyATCCost of allfactors ofproductionspread acrossall outputgametheoryTCCost of allfactors ofproduction,includingimplicit andexplicitMRRevenueper extraunit ofoutputAbnormalProfitImplicit andexplicit costsareexceeded byrevenueperfectcompetitionin the shortrunProductiveEfficiencyMC=ATCCRxthe amountof marketshare xnumber offirms holdcollusiveoligopolydiagramwith profitTFCCost of allfactors ofproduction thatdoes notchange withoutputmonopolisticcompetitionin the shortrunProfitDifferencebetweentotal costand totalrevenue

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