perfectcompetitionin the shortrunMonopolyOnemajorfirmmonopolisticcompetitionin the shortrunEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountCRxthe amountof marketshare xnumber offirms holdProductiveEfficiencyMC=ATCNormalProfitImplicit andexplicit costsare coveredAllocativeEfficiencyP=MCnaturalmonopolymonopoly diagramshowing inefficientallocation ofresources forsocietyMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsMRRevenueper extraunit ofoutputperfectcompetitionin the longrunShortRunAt least onefactor ofproduction isfixedTFCCost of allfactors ofproduction thatdoes notchange withoutputAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputRevenueMaximisationMR=0totalcostcurvesATCCost of allfactors ofproductionspread acrossall outputMCCost peradditionalunit ofoutputLongRunAll factors ofproductionare variableProfitDifferencebetweentotal costand totalrevenuePerfectCompetitionMany smallfirms sellingidenticalproductsOligopolyA few majorfirms sellingsimilarproductsmonopolydiagramwithoutprofitsTRPxQgametheoryProfitMaximisationMC=MRmonopolisticcompetitionin the longrunAbnormalProfitImplicit andexplicit costsareexceeded byrevenueAFCCost of all factorsof production thatdo not change withoutput spread outover outputTCCost of allfactors ofproduction,includingimplicit andexplicitTVCCost of allfactors ofproductionthat changewith outputcollusiveoligopolydiagramwith profitperfectcompetitionin the shortrunMonopolyOnemajorfirmmonopolisticcompetitionin the shortrunEconomiesof ScaleBenefit of costsdecreasing asoutputincreases to alarge amountCRxthe amountof marketshare xnumber offirms holdProductiveEfficiencyMC=ATCNormalProfitImplicit andexplicit costsare coveredAllocativeEfficiencyP=MCnaturalmonopolymonopoly diagramshowing inefficientallocation ofresources forsocietyMonopolisticCompetitionMany smallfirms sellingdifferentiatedproductsMRRevenueper extraunit ofoutputperfectcompetitionin the longrunShortRunAt least onefactor ofproduction isfixedTFCCost of allfactors ofproduction thatdoes notchange withoutputAVCCost of allfactors ofproduction thatchange withoutput spreadout over outputRevenueMaximisationMR=0totalcostcurvesATCCost of allfactors ofproductionspread acrossall outputMCCost peradditionalunit ofoutputLongRunAll factors ofproductionare variableProfitDifferencebetweentotal costand totalrevenuePerfectCompetitionMany smallfirms sellingidenticalproductsOligopolyA few majorfirms sellingsimilarproductsmonopolydiagramwithoutprofitsTRPxQgametheoryProfitMaximisationMC=MRmonopolisticcompetitionin the longrunAbnormalProfitImplicit andexplicit costsareexceeded byrevenueAFCCost of all factorsof production thatdo not change withoutput spread outover outputTCCost of allfactors ofproduction,includingimplicit andexplicitTVCCost of allfactors ofproductionthat changewith outputcollusiveoligopolydiagramwith profit

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