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AAUP: The abbreviation for American Association of University Professors, which is an association of university and college faculty established in 1915 to protect academic freedom. The AAUP is the closest thing university faculty have to a labor union. While it does engage in some collective bargaining functions with specific universities, similar to traditional labor unions, its primary function is to ensure that faculty maintain intellectual or academic freedom from political of social pressures.
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KINKED-DEMAND CURVE A demand curve with two distinct segments which have different elasticities that join to form a corner or kink. The primary use of the kinked-demand curve is to explain price rigidity in oligopoly. The two segments are: (1) a relatively more elastic segment for price increases and (2) a relatively less elastic segment for price decreases. The relative elasticities of these two segments is based on the interdependent decision-making of oligopolistic firms.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store seeking to buy either storage boxes for your summer clothes or 500 feet of coaxial cable. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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Helping spur the U.S. industrial revolution, Thomas Edison patented nearly 1300 inventions, 300 of which came out of his Menlo Park "invention factory" during a four-year period.
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"Live in such a way that you would not be ashamed to sell your parrot to the town gossip." -- Will Rogers
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IROR
Internal Rate of Return
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