Economiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsMonopolyOnemajorfirmCRxthe amountof marketshare xnumber offirms holdOligopolyA few majorfirms sellingsimilarproductsPerfectCompetitionMany smallfirms sellingidenticalproductsProfitMaximisationMC=MRATCCost of allfactors ofproductionspread acrossall outputAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputnaturalmonopolycollusiveoligopolydiagramwith profitRevenueMaximisationMR=0perfectcompetitionin the shortrunTRPxQtotalcostcurvesmonopoly diagramshowing inefficientallocation ofresources forsocietyAFCCost of all factorsof production thatdo not change withoutput spread outover outputShortRunAt least onefactor ofproduction isfixedMRRevenueper extraunit ofoutputTCCost of allfactors ofproduction,includingimplicit andexplicitProfitDifferencebetweentotal costand totalrevenueProductiveEfficiencyMC=ATCmonopolydiagramwithoutprofitsTFCCost of allfactors ofproduction thatdoes notchange withoutputMCCost peradditionalunit ofoutputAbnormalProfitImplicit andexplicit costsareexceeded byrevenuemonopolisticcompetitionin the longrunNormalProfitImplicit andexplicit costsare coveredTVCCost of allfactors ofproductionthat changewith outputgametheoryLongRunAll factors ofproductionare variableAllocativeEfficiencyP=MCperfectcompetitionin the longrunmonopolisticcompetitionin the shortrunEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsMonopolyOnemajorfirmCRxthe amountof marketshare xnumber offirms holdOligopolyA few majorfirms sellingsimilarproductsPerfectCompetitionMany smallfirms sellingidenticalproductsProfitMaximisationMC=MRATCCost of allfactors ofproductionspread acrossall outputAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputnaturalmonopolycollusiveoligopolydiagramwith profitRevenueMaximisationMR=0perfectcompetitionin the shortrunTRPxQtotalcostcurvesmonopoly diagramshowing inefficientallocation ofresources forsocietyAFCCost of all factorsof production thatdo not change withoutput spread outover outputShortRunAt least onefactor ofproduction isfixedMRRevenueper extraunit ofoutputTCCost of allfactors ofproduction,includingimplicit andexplicitProfitDifferencebetweentotal costand totalrevenueProductiveEfficiencyMC=ATCmonopolydiagramwithoutprofitsTFCCost of allfactors ofproduction thatdoes notchange withoutputMCCost peradditionalunit ofoutputAbnormalProfitImplicit andexplicit costsareexceeded byrevenuemonopolisticcompetitionin the longrunNormalProfitImplicit andexplicit costsare coveredTVCCost of allfactors ofproductionthat changewith outputgametheoryLongRunAll factors ofproductionare variableAllocativeEfficiencyP=MCperfectcompetitionin the longrunmonopolisticcompetitionin the shortrun

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