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