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