TRPxQRevenueMaximisationMR=0CRxthe amountof marketshare xnumber offirms holdPerfectCompetitionMany smallfirms sellingidenticalproductsOligopolyA few majorfirms sellingsimilarproductsTFCCost of allfactors ofproduction thatdoes notchange withoutputTVCCost of allfactors ofproductionthat changewith outputATCCost of allfactors ofproductionspread acrossall outputcollusiveoligopolydiagramwith profitShortRunAt least onefactor ofproduction isfixedProfitDifferencebetweentotal costand totalrevenueMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsmonopolisticcompetitionin the longrunEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputmonopolisticcompetitionin the shortrunProfitMaximisationMC=MRMonopolyOnemajorfirmperfectcompetitionin the longrunMRRevenueper extraunit ofoutputperfectcompetitionin the shortrunAbnormalProfitImplicit andexplicit costsareexceeded byrevenueNormalProfitImplicit andexplicit costsare coveredmonopolydiagramwithoutprofitstotalcostcurvesTCCost of allfactors ofproduction,includingimplicit andexplicitAFCCost of all factorsof production thatdo not change withoutput spread outover outputnaturalmonopolymonopoly diagramshowing inefficientallocation ofresources forsocietyProductiveEfficiencyMC=ATCMCCost peradditionalunit ofoutputgametheoryLongRunAll factors ofproductionare variableAllocativeEfficiencyP=MCTRPxQRevenueMaximisationMR=0CRxthe amountof marketshare xnumber offirms holdPerfectCompetitionMany smallfirms sellingidenticalproductsOligopolyA few majorfirms sellingsimilarproductsTFCCost of allfactors ofproduction thatdoes notchange withoutputTVCCost of allfactors ofproductionthat changewith outputATCCost of allfactors ofproductionspread acrossall outputcollusiveoligopolydiagramwith profitShortRunAt least onefactor ofproduction isfixedProfitDifferencebetweentotal costand totalrevenueMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsmonopolisticcompetitionin the longrunEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputmonopolisticcompetitionin the shortrunProfitMaximisationMC=MRMonopolyOnemajorfirmperfectcompetitionin the longrunMRRevenueper extraunit ofoutputperfectcompetitionin the shortrunAbnormalProfitImplicit andexplicit costsareexceeded byrevenueNormalProfitImplicit andexplicit costsare coveredmonopolydiagramwithoutprofitstotalcostcurvesTCCost of allfactors ofproduction,includingimplicit andexplicitAFCCost of all factorsof production thatdo not change withoutput spread outover outputnaturalmonopolymonopoly diagramshowing inefficientallocation ofresources forsocietyProductiveEfficiencyMC=ATCMCCost peradditionalunit ofoutputgametheoryLongRunAll factors ofproductionare variableAllocativeEfficiencyP=MC

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