MonopolyOnemajorfirmTFCCost of allfactors ofproduction thatdoes notchange withoutputnaturalmonopolyperfectcompetitionin the shortrunProfitDifferencebetweentotal costand totalrevenuegametheoryTRPxQEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountmonopolydiagramwithoutprofitsAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputmonopoly diagramshowing inefficientallocation ofresources forsocietyTVCCost of allfactors ofproductionthat changewith outputmonopolisticcompetitionin the shortruntotalcostcurvesAbnormalProfitImplicit andexplicit costsareexceeded byrevenueCRxthe amountof marketshare xnumber offirms holdShortRunAt least onefactor ofproduction isfixedLongRunAll factors ofproductionare variableTCCost of allfactors ofproduction,includingimplicit andexplicitMCCost peradditionalunit ofoutputRevenueMaximisationMR=0OligopolyA few majorfirms sellingsimilarproductsProfitMaximisationMC=MRPerfectCompetitionMany smallfirms sellingidenticalproductsmonopolisticcompetitionin the longrunAFCCost of all factorsof production thatdo not change withoutput spread outover outputMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsNormalProfitImplicit andexplicit costsare coveredMRRevenueper extraunit ofoutputAllocativeEfficiencyP=MCProductiveEfficiencyMC=ATCperfectcompetitionin the longruncollusiveoligopolydiagramwith profitATCCost of allfactors ofproductionspread acrossall outputMonopolyOnemajorfirmTFCCost of allfactors ofproduction thatdoes notchange withoutputnaturalmonopolyperfectcompetitionin the shortrunProfitDifferencebetweentotal costand totalrevenuegametheoryTRPxQEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountmonopolydiagramwithoutprofitsAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputmonopoly diagramshowing inefficientallocation ofresources forsocietyTVCCost of allfactors ofproductionthat changewith outputmonopolisticcompetitionin the shortruntotalcostcurvesAbnormalProfitImplicit andexplicit costsareexceeded byrevenueCRxthe amountof marketshare xnumber offirms holdShortRunAt least onefactor ofproduction isfixedLongRunAll factors ofproductionare variableTCCost of allfactors ofproduction,includingimplicit andexplicitMCCost peradditionalunit ofoutputRevenueMaximisationMR=0OligopolyA few majorfirms sellingsimilarproductsProfitMaximisationMC=MRPerfectCompetitionMany smallfirms sellingidenticalproductsmonopolisticcompetitionin the longrunAFCCost of all factorsof production thatdo not change withoutput spread outover outputMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsNormalProfitImplicit andexplicit costsare coveredMRRevenueper extraunit ofoutputAllocativeEfficiencyP=MCProductiveEfficiencyMC=ATCperfectcompetitionin the longruncollusiveoligopolydiagramwith profitATCCost of allfactors ofproductionspread acrossall output

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