TVCCost of allfactors ofproductionthat changewith outputMCCost peradditionalunit ofoutputAbnormalProfitImplicit andexplicit costsareexceeded byrevenueOligopolyA few majorfirms sellingsimilarproductsmonopoly diagramshowing inefficientallocation ofresources forsocietyATCCost of allfactors ofproductionspread acrossall outputEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountperfectcompetitionin the longrunProductiveEfficiencyMC=ATCtotalcostcurvesPerfectCompetitionMany smallfirms sellingidenticalproductsTCCost of allfactors ofproduction,includingimplicit andexplicitMonopolyOnemajorfirmperfectcompetitionin the shortrunmonopolisticcompetitionin the shortrunAFCCost of all factorsof production thatdo not change withoutput spread outover outputmonopolisticcompetitionin the longrunProfitDifferencebetweentotal costand totalrevenuegametheoryMRRevenueper extraunit ofoutputCRxthe amountof marketshare xnumber offirms holdLongRunAll factors ofproductionare variableTFCCost of allfactors ofproduction thatdoes notchange withoutputProfitMaximisationMC=MRnaturalmonopolyNormalProfitImplicit andexplicit costsare coveredcollusiveoligopolydiagramwith profitmonopolydiagramwithoutprofitsMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsRevenueMaximisationMR=0AVCCost of allfactors ofproduction thatchange withoutput spreadout over outputShortRunAt least onefactor ofproduction isfixedTRPxQAllocativeEfficiencyP=MCTVCCost of allfactors ofproductionthat changewith outputMCCost peradditionalunit ofoutputAbnormalProfitImplicit andexplicit costsareexceeded byrevenueOligopolyA few majorfirms sellingsimilarproductsmonopoly diagramshowing inefficientallocation ofresources forsocietyATCCost of allfactors ofproductionspread acrossall outputEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountperfectcompetitionin the longrunProductiveEfficiencyMC=ATCtotalcostcurvesPerfectCompetitionMany smallfirms sellingidenticalproductsTCCost of allfactors ofproduction,includingimplicit andexplicitMonopolyOnemajorfirmperfectcompetitionin the shortrunmonopolisticcompetitionin the shortrunAFCCost of all factorsof production thatdo not change withoutput spread outover outputmonopolisticcompetitionin the longrunProfitDifferencebetweentotal costand totalrevenuegametheoryMRRevenueper extraunit ofoutputCRxthe amountof marketshare xnumber offirms holdLongRunAll factors ofproductionare variableTFCCost of allfactors ofproduction thatdoes notchange withoutputProfitMaximisationMC=MRnaturalmonopolyNormalProfitImplicit andexplicit costsare coveredcollusiveoligopolydiagramwith profitmonopolydiagramwithoutprofitsMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsRevenueMaximisationMR=0AVCCost of allfactors ofproduction thatchange withoutput spreadout over outputShortRunAt least onefactor ofproduction isfixedTRPxQAllocativeEfficiencyP=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. Cost of all factors of production that change with output
    TVC
  2. Cost per additional unit of output
    MC
  3. Implicit and explicit costs are exceeded by revenue
    Abnormal Profit
  4. A few major firms selling similar products
    Oligopoly
  5. monopoly diagram showing inefficient allocation of resources for society
  6. Cost of all factors of production spread across all output
    ATC
  7. Benefit of costs decreasing as output increases to a large amount
    Economies of Scale
  8. perfect competition in the long run
  9. MC=ATC
    Productive Efficiency
  10. total cost curves
  11. Many small firms selling identical products
    Perfect Competition
  12. Cost of all factors of production, including implicit and explicit
    TC
  13. One major firm
    Monopoly
  14. perfect competition in the short run
  15. monopolistic competition in the short run
  16. Cost of all factors of production that do not change with output spread out over output
    AFC
  17. monopolistic competition in the long run
  18. Difference between total cost and total revenue
    Profit
  19. game theory
  20. Revenue per extra unit of output
    MR
  21. the amount of market share x number of firms hold
    CRx
  22. All factors of production are variable
    Long Run
  23. Cost of all factors of production that does not change with output
    TFC
  24. MC=MR
    Profit Maximisation
  25. natural monopoly
  26. Implicit and explicit costs are covered
    Normal Profit
  27. collusive oligopoly diagram with profit
  28. monopoly diagram without profits
  29. Many small firms selling differentiated products
    Monopolistic Competition
  30. MR=0
    Revenue Maximisation
  31. Cost of all factors of production that change with output spread out over output
    AVC
  32. At least one factor of production is fixed
    Short Run
  33. PxQ
    TR
  34. P=MC
    Allocative Efficiency