CRxthe amountof marketshare xnumber offirms holdTVCCost of allfactors ofproductionthat changewith outputProfitDifferencebetweentotal costand totalrevenueRevenueMaximisationMR=0AbnormalProfitImplicit andexplicit costsareexceeded byrevenuenaturalmonopolymonopolydiagramwithoutprofitsTFCCost of allfactors ofproduction thatdoes notchange withoutputNormalProfitImplicit andexplicit costsare coveredAllocativeEfficiencyP=MCAFCCost of all factorsof production thatdo not change withoutput spread outover outputMonopolyOnemajorfirmATCCost of allfactors ofproductionspread acrossall outputShortRunAt least onefactor ofproduction isfixedgametheoryProfitMaximisationMC=MRmonopolisticcompetitionin the shortrunPerfectCompetitionMany smallfirms sellingidenticalproductsOligopolyA few majorfirms sellingsimilarproductsAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsProductiveEfficiencyMC=ATCMCCost peradditionalunit ofoutputTRPxQperfectcompetitionin the longrunmonopolisticcompetitionin the longrunmonopoly diagramshowing inefficientallocation ofresources forsocietyTCCost of allfactors ofproduction,includingimplicit andexplicitperfectcompetitionin the shortruncollusiveoligopolydiagramwith profitEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amounttotalcostcurvesMRRevenueper extraunit ofoutputLongRunAll factors ofproductionare variableCRxthe amountof marketshare xnumber offirms holdTVCCost of allfactors ofproductionthat changewith outputProfitDifferencebetweentotal costand totalrevenueRevenueMaximisationMR=0AbnormalProfitImplicit andexplicit costsareexceeded byrevenuenaturalmonopolymonopolydiagramwithoutprofitsTFCCost of allfactors ofproduction thatdoes notchange withoutputNormalProfitImplicit andexplicit costsare coveredAllocativeEfficiencyP=MCAFCCost of all factorsof production thatdo not change withoutput spread outover outputMonopolyOnemajorfirmATCCost of allfactors ofproductionspread acrossall outputShortRunAt least onefactor ofproduction isfixedgametheoryProfitMaximisationMC=MRmonopolisticcompetitionin the shortrunPerfectCompetitionMany smallfirms sellingidenticalproductsOligopolyA few majorfirms sellingsimilarproductsAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsProductiveEfficiencyMC=ATCMCCost peradditionalunit ofoutputTRPxQperfectcompetitionin the longrunmonopolisticcompetitionin the longrunmonopoly diagramshowing inefficientallocation ofresources forsocietyTCCost of allfactors ofproduction,includingimplicit andexplicitperfectcompetitionin the shortruncollusiveoligopolydiagramwith profitEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amounttotalcostcurvesMRRevenueper extraunit ofoutputLongRunAll 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. the amount of market share x number of firms hold
    CRx
  2. Cost of all factors of production that change with output
    TVC
  3. Difference between total cost and total revenue
    Profit
  4. MR=0
    Revenue Maximisation
  5. Implicit and explicit costs are exceeded by revenue
    Abnormal Profit
  6. natural monopoly
  7. monopoly diagram without profits
  8. Cost of all factors of production that does not change with output
    TFC
  9. Implicit and explicit costs are covered
    Normal Profit
  10. P=MC
    Allocative Efficiency
  11. Cost of all factors of production that do not change with output spread out over output
    AFC
  12. One major firm
    Monopoly
  13. Cost of all factors of production spread across all output
    ATC
  14. At least one factor of production is fixed
    Short Run
  15. game theory
  16. MC=MR
    Profit Maximisation
  17. monopolistic competition in the short run
  18. Many small firms selling identical products
    Perfect Competition
  19. A few major firms selling similar products
    Oligopoly
  20. Cost of all factors of production that change with output spread out over output
    AVC
  21. Many small firms selling differentiated products
    Monopolistic Competition
  22. MC=ATC
    Productive Efficiency
  23. Cost per additional unit of output
    MC
  24. PxQ
    TR
  25. perfect competition in the long run
  26. monopolistic competition in the long run
  27. monopoly diagram showing inefficient allocation of resources for society
  28. Cost of all factors of production, including implicit and explicit
    TC
  29. perfect competition in the short run
  30. collusive oligopoly diagram with profit
  31. Benefit of costs decreasing as output increases to a large amount
    Economies of Scale
  32. total cost curves
  33. Revenue per extra unit of output
    MR
  34. All factors of production are variable
    Long Run