(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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it underproduces output and charges a price above marginal cost
in the elastic region of the demand curve
The marginal revenue curve is perfectly elastic
Its long run average cost curve is always experiencing economies of scale as output increases
Demand is equal to marginal cost.
The firm would have to lower its price to sell more than 10 units.
differences in a product’s price do not reflect differences in costs of production
less than its price
Productively efficient
The firm(s) in the industry earn economic profits in the long run.
Firms are price takers
Price would increase and quantity would decrease.
Marginal revenue is equal to marginal cost, but less than price
Experience high barriers to entry.
able to separate consumers into different groups based on demand elasticities
Each consumer is charged the maximum price they are willing to pay, eliminating additional benefit of buying a cheaper price
Allocatively efficient
Have 4 or fewer companies that make a majority of the market
Producing where marginal revenue is negative
Perfect price discrimination
The firm(s) in the industry earn economic profits in the long run.
