perfectcompetitionin the shortrunmonopolydiagramwithoutprofitsOligopolyA few majorfirms sellingsimilarproductsMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsTCCost of allfactors ofproduction,includingimplicit andexplicitAbnormalProfitImplicit andexplicit costsareexceeded byrevenueLongRunAll factors ofproductionare variableProductiveEfficiencyMC=ATCtotalcostcurvesATCCost of allfactors ofproductionspread acrossall outputnaturalmonopolycollusiveoligopolydiagramwith profitMonopolyOnemajorfirmperfectcompetitionin the longrunAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputmonopolisticcompetitionin the longrunEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountAFCCost of all factorsof production thatdo not change withoutput spread outover outputProfitDifferencebetweentotal costand totalrevenueTVCCost of allfactors ofproductionthat changewith outputShortRunAt least onefactor ofproduction isfixedPerfectCompetitionMany smallfirms sellingidenticalproductsNormalProfitImplicit andexplicit costsare coveredTFCCost of allfactors ofproduction thatdoes notchange withoutputmonopolisticcompetitionin the shortrunCRxthe amountof marketshare xnumber offirms holdMRRevenueper extraunit ofoutputmonopoly diagramshowing inefficientallocation ofresources forsocietyRevenueMaximisationMR=0ProfitMaximisationMC=MRMCCost peradditionalunit ofoutputgametheoryTRPxQAllocativeEfficiencyP=MCperfectcompetitionin the shortrunmonopolydiagramwithoutprofitsOligopolyA few majorfirms sellingsimilarproductsMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsTCCost of allfactors ofproduction,includingimplicit andexplicitAbnormalProfitImplicit andexplicit costsareexceeded byrevenueLongRunAll factors ofproductionare variableProductiveEfficiencyMC=ATCtotalcostcurvesATCCost of allfactors ofproductionspread acrossall outputnaturalmonopolycollusiveoligopolydiagramwith profitMonopolyOnemajorfirmperfectcompetitionin the longrunAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputmonopolisticcompetitionin the longrunEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountAFCCost of all factorsof production thatdo not change withoutput spread outover outputProfitDifferencebetweentotal costand totalrevenueTVCCost of allfactors ofproductionthat changewith outputShortRunAt least onefactor ofproduction isfixedPerfectCompetitionMany smallfirms sellingidenticalproductsNormalProfitImplicit andexplicit costsare coveredTFCCost of allfactors ofproduction thatdoes notchange withoutputmonopolisticcompetitionin the shortrunCRxthe amountof marketshare xnumber offirms holdMRRevenueper extraunit ofoutputmonopoly diagramshowing inefficientallocation ofresources forsocietyRevenueMaximisationMR=0ProfitMaximisationMC=MRMCCost peradditionalunit ofoutputgametheoryTRPxQAllocativeEfficiencyP=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. perfect competition in the short run
  2. monopoly diagram without profits
  3. A few major firms selling similar products
    Oligopoly
  4. Many small firms selling differentiated products
    Monopolistic Competition
  5. Cost of all factors of production, including implicit and explicit
    TC
  6. Implicit and explicit costs are exceeded by revenue
    Abnormal Profit
  7. All factors of production are variable
    Long Run
  8. MC=ATC
    Productive Efficiency
  9. total cost curves
  10. Cost of all factors of production spread across all output
    ATC
  11. natural monopoly
  12. collusive oligopoly diagram with profit
  13. One major firm
    Monopoly
  14. perfect competition in the long run
  15. Cost of all factors of production that change with output spread out over output
    AVC
  16. monopolistic competition in the long run
  17. Benefit of costs decreasing as output increases to a large amount
    Economies of Scale
  18. Cost of all factors of production that do not change with output spread out over output
    AFC
  19. Difference between total cost and total revenue
    Profit
  20. Cost of all factors of production that change with output
    TVC
  21. At least one factor of production is fixed
    Short Run
  22. Many small firms selling identical products
    Perfect Competition
  23. Implicit and explicit costs are covered
    Normal Profit
  24. Cost of all factors of production that does not change with output
    TFC
  25. monopolistic competition in the short run
  26. the amount of market share x number of firms hold
    CRx
  27. Revenue per extra unit of output
    MR
  28. monopoly diagram showing inefficient allocation of resources for society
  29. MR=0
    Revenue Maximisation
  30. MC=MR
    Profit Maximisation
  31. Cost per additional unit of output
    MC
  32. game theory
  33. PxQ
    TR
  34. P=MC
    Allocative Efficiency