Teacher’s instructions Click here to start Teacher’s instructions Instructions

Satisficing level of output & profit Rise in fixed costs Falling demand (AR) Draw diagram Key Phrase 1 Key Phrase 2 Key Phrase 3 Context Perfect competition long run MES for perfect competition Cartel pricing Draw diagram Outward shift of AR Fall in variable costs External economies Draw diagram

Click handle to start Draw diagram Key Phrase 1 Key Phrase 2 Draw diagram Key Phrase 1 Key Phrase 2 Key Phrase 3 Context Satisficing level of output & profit Monopoly profit A sugar tax on suppliers Draw diagram Perfect competition long run External economies MES for a natural monopoly Draw diagram Outward shift of AR Rise in fixed costs MES for perfect competition Falling demand (AR) Fall in variable costs Monopolistic comp (LR) Revenue maximisation ATC when MC is zero Diseconomies of scale Consumer surplus in monopoly Sales maximisation Monopoly profit with low Ped Rise in variable costs Fall in fixed costs Profit maximisation Draw diagram Draw diagram Draw diagram Draw diagram Draw diagram Winner! Price cap on monopoly Cartel pricing Shut down price Draw diagram last last last Draw diagram

SLOT MACHINE – Teacher’s instructions Key Phrase Context Fall in fixed costs Draw diagram A sugar tax on suppliers Shut down price Diseconomies of scale Outward shift of AR Rise in variable costs Perfect competition long run Cartel pricing Falling demand (AR) Monopoly profit Revenue maximisation Consumer surplus in monopoly Monopolistic comp (LR) Profit maximisation Satisficing level of output & profit Monopoly profit with low Ped Rise in fixed costs Fall in variable costs Price cap on monopoly ATC when MC is zero MES for a natural monopoly External economies MES for perfect competition Sales maximisation Sub normal profit SLOT MACHINE – Teacher’s instructions In ‘Normal mode’ of Powerpoint, you are able to edit the ‘key phrases’ in column one. You can edit the ‘Context’ in column two. Click the button below to clear the table. Click here to clear the table

SLOT MACHINE – INSTRUCTIONS