(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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less than its price
Each consumer is charged the maximum price they are willing to pay, eliminating additional benefit of buying a cheaper price
The firm(s) in the industry earn economic profits in the long run.
Demand is equal to marginal cost.
The firm(s) in the industry earn economic profits in the long run.
Producing where marginal revenue is negative
Allocatively efficient
The marginal revenue curve is perfectly elastic
Marginal revenue is equal to marginal cost, but less than price
it underproduces output and charges a price above marginal cost
able to separate consumers into different groups based on demand elasticities
Firms are price takers
Productively efficient
Have 4 or fewer companies that make a majority of the market
Reduction in deadweight loss
in the elastic region of the demand curve
The firm would have to lower its price to sell more than 10 units.
Experience high barriers to entry.
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
