ProfitDifferencebetweentotal costand totalrevenueTFCCost of allfactors ofproduction thatdoes notchange withoutputTCCost of allfactors ofproduction,includingimplicit andexplicitEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountOligopolyA few majorfirms sellingsimilarproductsPerfectCompetitionMany smallfirms sellingidenticalproductsCRxthe amountof marketshare xnumber offirms holdnaturalmonopolyAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputAFCCost of all factorsof production thatdo not change withoutput spread outover outputNormalProfitImplicit andexplicit costsare coveredmonopoly diagramshowing inefficientallocation ofresources forsocietyRevenueMaximisationMR=0MCCost peradditionalunit ofoutputmonopolisticcompetitionin the shortrunAllocativeEfficiencyP=MCTVCCost of allfactors ofproductionthat changewith outputMRRevenueper extraunit ofoutputAbnormalProfitImplicit andexplicit costsareexceeded byrevenueProfitMaximisationMC=MRMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsMonopolyOnemajorfirmShortRunAt least onefactor ofproduction isfixedgametheoryTRPxQmonopolydiagramwithoutprofitsperfectcompetitionin the shortrunLongRunAll factors ofproductionare variableperfectcompetitionin the longrunProductiveEfficiencyMC=ATCcollusiveoligopolydiagramwith profittotalcostcurvesmonopolisticcompetitionin the longrunATCCost of allfactors ofproductionspread acrossall outputProfitDifferencebetweentotal costand totalrevenueTFCCost of allfactors ofproduction thatdoes notchange withoutputTCCost of allfactors ofproduction,includingimplicit andexplicitEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountOligopolyA few majorfirms sellingsimilarproductsPerfectCompetitionMany smallfirms sellingidenticalproductsCRxthe amountof marketshare xnumber offirms holdnaturalmonopolyAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputAFCCost of all factorsof production thatdo not change withoutput spread outover outputNormalProfitImplicit andexplicit costsare coveredmonopoly diagramshowing inefficientallocation ofresources forsocietyRevenueMaximisationMR=0MCCost peradditionalunit ofoutputmonopolisticcompetitionin the shortrunAllocativeEfficiencyP=MCTVCCost of allfactors ofproductionthat changewith outputMRRevenueper extraunit ofoutputAbnormalProfitImplicit andexplicit costsareexceeded byrevenueProfitMaximisationMC=MRMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsMonopolyOnemajorfirmShortRunAt least onefactor ofproduction isfixedgametheoryTRPxQmonopolydiagramwithoutprofitsperfectcompetitionin the shortrunLongRunAll factors ofproductionare variableperfectcompetitionin the longrunProductiveEfficiencyMC=ATCcollusiveoligopolydiagramwith profittotalcostcurvesmonopolisticcompetitionin the longrunATCCost of allfactors ofproductionspread acrossall output

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