To PSU Advisor: Jamie Brenner
From PSU Student: Kimberlee Truino-Mahigel
At the end of this summer semester, I will have earned my LAS
Associate Degree from Penn State University. I plan to continue my
education by earning a Bachelors Degree in the Applic
Everyday there is a new victim of human trafficking. Every day a child, a
sibling, a mother or a father is taken away from their families and loved one and
what could potentially happen next is unimaginable.
When we hear the word slavery, we think of some
Freeh Report-Reading Response
1. The primary ethical issue in this case is that Jerry Sandusky, a known football
coach at Penn State, was sexually assaulting young boys. Besides that major and
known ethical issue, Penn States athletic directo
Attention Step: I would start my speech off by asking everyone here if they have ever picked up
and looked at their phone while in the middle of a conversation, but everyone would raise their
hands. And for that, we all suck. There is no reason to distanc
One to one function: every y-value only has ONE x-value
-use horizontal line test to determine if a function is one to one
-functions with even powers of x or absolute values of x are NOT one to one
Inverse functions: switch all x and y values
Chapter 12: Nature and Classes of Contracts: Contracting on the Internet
A. Nature of Contracts
1. Definition of a contract- a legally binding agreement. Each party is legally bound to fo or to
refrain from doing certain acts.
2. Elements of a contract:
BATNA (Best Alternative To Negotiated Agreement) sets the value threshold an
acceptable agreement must exceed
What is each sides BATNA?
o Keurigs BATNA was the True North private label brand$.03 per cup gross
Assumes that Keurig is able t
Why do start-ups need to raise money?
Need initial capital to get operations started
develop a product, manufacture initial inventory, purchase equipment
fund negative cash flow in early periods
Initial sales volume may not create enough cont
Multi-site businesses provide an opportunity for experimentation
Get it right before scaling!
Noodles opened only 1 store/year its first 3 years
Consistency/efficiency in implementation/operations are critical
Chapter 13: Formation of Contracts: Offer and Acceptance
A. Requirements of an Offer:
1. Contractual Intention: offeror must appear to intend to create a binding obligation, shown by
conduct. Excludes social offers or offers made in obvious jest.
Chapter 15: Consideration
A. General Principles:
1. Consideration Defined and explained: consideration- what each party to a contract gives up
to the other in making their agreement.
a. Bargained-for Exchange: something of value must be given or promised
Match Your Innovation Strategy to Your Innovation Ecosystem
How does your project measure up?
Attractiveness to customers, competition, supply chain, project team
Resource allocation: Decide which initiative risks to t
Economics is everywhere
General summary: The Demand curve is to the far right for Koalas meaning they are high demand
however, the supply curve for koalas are to the far left meaning it is hard to supply ko
Write the following game in extensive form: There are three boxes, with
two balls each: a black box, containing two black balls; a white box, containing
two white balls; and a mixed box, containing one black ball and one white ball.
Print Order # 200012421
EVISU Group Limited
1st Floor, International Industrial Building, No.175 Hoi Bun Road, Kwun Tong, Kowloon
T (852) 2913 2001
Order Date: 26 September 2016
Order Warehouse: USA
Which of the following MUST be true of the long run?
(A)It is at least one year in duration.
(B)All factors of production are variable.
(C)At least one factor of production is fixed.
(D)Marginal costs are constant.
(E)Average total costs are constant.
Assume that labor is the only variable input. If a firms short-run marginal cost is increasing as output rises, which of the
following must be true?
(A)Average product of labor is constant.
(B)Average product of labor is increasing.
(C)Marginal product of
Product Market Structures
Which of the following best describes a market that is perfectly competitive?
(A)Lots of small firms facing no significant barriers to entry and producing a homogeneous product
(B)Lots of small firms facing significant barriers t
Suppose that price in a perfectly competitive industry decreases and it is now below minimum average total cost but
remains above minimum average variable cost. Which of the following will occur in the short run?
(A) New firms will enter the industry.
Monopoly vs. Perfect Competition
Which of the following is most likely to occur if a single-price monopolist is replaced by a perfectly competitive market?
(A)Prices will increase.
(B)The deadweight loss will decrease.
(C)Profits will increase.
In this graph, TC is total cost and TR is total revenue. At which level of output is profit maximized?
The most profitable level of output for any firm operating in the short run is the level of output at which
Last year 17 million tons of beans were sold for $300 per ton. This year 17 million tons of beans were sold for $285 per
ton. Which of the following changes in demand and supply could have caused this outcome?
(A)Demand = Increase ; Supply = Increase
Which of the following is true for both a monopolistically competitive firm and a perfectly competitive firm in long-run
(A)Marginal cost is greater than marginal revenue.
(B)Price is greater than marginal cost.
1. If a certain combination of
goods or services lies outside
the production possibilities
curve of an economy, which
of the following is true?
a. Effective trade barriers
have reduced foreign
imports into the economy.
b. New technology is being
used in p
Government Regulation in Monopoly
Antitrust policy is designed to
(A)encourage businesses to produce public goods
(B)establish trust between the government and the business community
(C)prevent businesses from earning profits
(D)maintain a competitive bus
Price Discrimination in Monopoly
In order for a firm to engage in price discrimination, it must be
(A)able to separate consumers into different groups based on demand elasticities
(B)producing in the inelastic portion of its demand curve to raise its pric