monopolisticcompetitionin the shortrunMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsmonopoly diagramshowing inefficientallocation ofresources forsocietyProfitMaximisationMC=MRShortRunAt least onefactor ofproduction isfixedTVCCost of allfactors ofproductionthat changewith outputperfectcompetitionin the shortrunAFCCost of all factorsof production thatdo not change withoutput spread outover outputTFCCost of allfactors ofproduction thatdoes notchange withoutputnaturalmonopolyNormalProfitImplicit andexplicit costsare coveredMonopolyOnemajorfirmOligopolyA few majorfirms sellingsimilarproductsPerfectCompetitionMany smallfirms sellingidenticalproductsmonopolisticcompetitionin the longrunCRxthe amountof marketshare xnumber offirms holdAllocativeEfficiencyP=MCAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputTRPxQcollusiveoligopolydiagramwith profitperfectcompetitionin the longrunMRRevenueper extraunit ofoutputEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountLongRunAll factors ofproductionare variablemonopolydiagramwithoutprofitsTCCost of allfactors ofproduction,includingimplicit andexplicitgametheoryAbnormalProfitImplicit andexplicit costsareexceeded byrevenueRevenueMaximisationMR=0ATCCost of allfactors ofproductionspread acrossall outputProductiveEfficiencyMC=ATCtotalcostcurvesProfitDifferencebetweentotal costand totalrevenueMCCost peradditionalunit ofoutputmonopolisticcompetitionin the shortrunMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsmonopoly diagramshowing inefficientallocation ofresources forsocietyProfitMaximisationMC=MRShortRunAt least onefactor ofproduction isfixedTVCCost of allfactors ofproductionthat changewith outputperfectcompetitionin the shortrunAFCCost of all factorsof production thatdo not change withoutput spread outover outputTFCCost of allfactors ofproduction thatdoes notchange withoutputnaturalmonopolyNormalProfitImplicit andexplicit costsare coveredMonopolyOnemajorfirmOligopolyA few majorfirms sellingsimilarproductsPerfectCompetitionMany smallfirms sellingidenticalproductsmonopolisticcompetitionin the longrunCRxthe amountof marketshare xnumber offirms holdAllocativeEfficiencyP=MCAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputTRPxQcollusiveoligopolydiagramwith profitperfectcompetitionin the longrunMRRevenueper extraunit ofoutputEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountLongRunAll factors ofproductionare variablemonopolydiagramwithoutprofitsTCCost of allfactors ofproduction,includingimplicit andexplicitgametheoryAbnormalProfitImplicit andexplicit costsareexceeded byrevenueRevenueMaximisationMR=0ATCCost of allfactors ofproductionspread acrossall outputProductiveEfficiencyMC=ATCtotalcostcurvesProfitDifferencebetweentotal costand totalrevenueMCCost peradditionalunit ofoutput

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