naturalmonopolyRevenueMaximisationMR=0monopolisticcompetitionin the longrunOligopolyA few majorfirms sellingsimilarproductsMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsShortRunAt least onefactor ofproduction isfixedperfectcompetitionin the longrunATCCost of allfactors ofproductionspread acrossall outputTFCCost of allfactors ofproduction thatdoes notchange withoutputMonopolyOnemajorfirmAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputAFCCost of all factorsof production thatdo not change withoutput spread outover outputcollusiveoligopolydiagramwith profitMCCost peradditionalunit ofoutputPerfectCompetitionMany smallfirms sellingidenticalproductsCRxthe amountof marketshare xnumber offirms holdmonopoly diagramshowing inefficientallocation ofresources forsocietyProductiveEfficiencyMC=ATCProfitMaximisationMC=MRAbnormalProfitImplicit andexplicit costsareexceeded byrevenueLongRunAll factors ofproductionare variableTCCost of allfactors ofproduction,includingimplicit andexplicitmonopolydiagramwithoutprofitsAllocativeEfficiencyP=MCProfitDifferencebetweentotal costand totalrevenueTVCCost of allfactors ofproductionthat changewith outputmonopolisticcompetitionin the shortrunNormalProfitImplicit andexplicit costsare coveredMRRevenueper extraunit ofoutputEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountperfectcompetitionin the shortrungametheorytotalcostcurvesTRPxQnaturalmonopolyRevenueMaximisationMR=0monopolisticcompetitionin the longrunOligopolyA few majorfirms sellingsimilarproductsMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsShortRunAt least onefactor ofproduction isfixedperfectcompetitionin the longrunATCCost of allfactors ofproductionspread acrossall outputTFCCost of allfactors ofproduction thatdoes notchange withoutputMonopolyOnemajorfirmAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputAFCCost of all factorsof production thatdo not change withoutput spread outover outputcollusiveoligopolydiagramwith profitMCCost peradditionalunit ofoutputPerfectCompetitionMany smallfirms sellingidenticalproductsCRxthe amountof marketshare xnumber offirms holdmonopoly diagramshowing inefficientallocation ofresources forsocietyProductiveEfficiencyMC=ATCProfitMaximisationMC=MRAbnormalProfitImplicit andexplicit costsareexceeded byrevenueLongRunAll factors ofproductionare variableTCCost of allfactors ofproduction,includingimplicit andexplicitmonopolydiagramwithoutprofitsAllocativeEfficiencyP=MCProfitDifferencebetweentotal costand totalrevenueTVCCost of allfactors ofproductionthat changewith outputmonopolisticcompetitionin the shortrunNormalProfitImplicit andexplicit costsare coveredMRRevenueper extraunit ofoutputEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountperfectcompetitionin the shortrungametheorytotalcostcurvesTRPxQ

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