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