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