Ms. Aura is a psychic. The demand for her services is given by Q= 2,000 –10P, where Qis the number of one-hour sessions per year and Pis the price of each session. Her marginal revenue is MR= 200 –0.2Q. Ms. Aura’s operation has no fixed costs, but she incurs a cost of $150 per session (going to the client’s house).a. What is Ms. Aura’s yearly profit?Find the number of sessions that Ms. Aura will provide by equating the marginal revenue to the marginal cost of a session: setting MR = MC yields 200 –0.2Q = 150 which solves as Q = 250. The price that would generate demand for 250 sessions is $175 as 2,000 –10(175) = 250. Thus, her annual profit is 175(250) –150(250) = $6,250 per year.

The law of demand is the assertion that ?

The lee family is looking to buy a house in one of two suburban areas just outside of a major city, and air quality is a top priority for them. overall air quality is calculated by taking measures in 100 locations within each suburb and then calculating a measure of central tendency. in one suburb, there is a major bus station that creates very poor air quality at its location but has no impact in the surrounding parts of the suburb. in this situation, which measure of overall suburb air quality would be most useful?

Which of the following differentiates cost accounting and financial accounting? a. the primary users of cost accounting are the investors, whereas the primary users of financial accounting are the managers. b. cost accounting measures only the financial information related to the costs of acquiring fixed assets in an organization, whereas financial accounting measures financial and nonfinancial information of a company's business transactions. c. cost accounting measures information related to the costs of acquiring or using resources in an organization, whereas financial accounting measures a financial position of a company to investors, banks, and external parties. d. cost accounting deals with product design, production, and marketing strategies, whereas financial accounting deals mainly with pricing of the products.