monopolydiagramwithoutprofitsperfectcompetitionin the shortrunAbnormalProfitImplicit andexplicit costsareexceeded byrevenueperfectcompetitionin the longruntotalcostcurvesLongRunAll factors ofproductionare variablemonopolisticcompetitionin the shortrunAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputmonopoly diagramshowing inefficientallocation ofresources forsocietyShortRunAt least onefactor ofproduction isfixedMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsAllocativeEfficiencyP=MCEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountmonopolisticcompetitionin the longrunOligopolyA few majorfirms sellingsimilarproductsAFCCost of all factorsof production thatdo not change withoutput spread outover outputRevenueMaximisationMR=0MRRevenueper extraunit ofoutputMCCost peradditionalunit ofoutputATCCost of allfactors ofproductionspread acrossall outputgametheorynaturalmonopolyMonopolyOnemajorfirmProfitMaximisationMC=MRTCCost of allfactors ofproduction,includingimplicit andexplicitTRPxQProductiveEfficiencyMC=ATCPerfectCompetitionMany smallfirms sellingidenticalproductscollusiveoligopolydiagramwith profitCRxthe amountof marketshare xnumber offirms holdTFCCost of allfactors ofproduction thatdoes notchange withoutputTVCCost of allfactors ofproductionthat changewith outputNormalProfitImplicit andexplicit costsare coveredProfitDifferencebetweentotal costand totalrevenuemonopolydiagramwithoutprofitsperfectcompetitionin the shortrunAbnormalProfitImplicit andexplicit costsareexceeded byrevenueperfectcompetitionin the longruntotalcostcurvesLongRunAll factors ofproductionare variablemonopolisticcompetitionin the shortrunAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputmonopoly diagramshowing inefficientallocation ofresources forsocietyShortRunAt least onefactor ofproduction isfixedMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsAllocativeEfficiencyP=MCEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountmonopolisticcompetitionin the longrunOligopolyA few majorfirms sellingsimilarproductsAFCCost of all factorsof production thatdo not change withoutput spread outover outputRevenueMaximisationMR=0MRRevenueper extraunit ofoutputMCCost peradditionalunit ofoutputATCCost of allfactors ofproductionspread acrossall outputgametheorynaturalmonopolyMonopolyOnemajorfirmProfitMaximisationMC=MRTCCost of allfactors ofproduction,includingimplicit andexplicitTRPxQProductiveEfficiencyMC=ATCPerfectCompetitionMany smallfirms sellingidenticalproductscollusiveoligopolydiagramwith profitCRxthe amountof marketshare xnumber offirms holdTFCCost of allfactors ofproduction thatdoes notchange withoutputTVCCost of allfactors ofproductionthat changewith outputNormalProfitImplicit andexplicit costsare coveredProfitDifferencebetweentotal costand totalrevenue

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