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Marsha Mellow Is Very Flexible

question 6

Multiple Choice

Marsha Mellow is very flexible.She consumes x and y.She says, "Give me x or give me y, I don't care.I can't tell the difference between them." She is currently endowed with 14 units of x and 3 units of y.The price of x is 3 times the price of y.Marsha can trade x and y at the going prices but has no other source of income.How many units of y will Marsha consume?

Evaluate the impact of rent control laws on the market.

Calculate the effects of a per-unit tax on market equilibrium, including the size of the tax and its distribution between buyers and sellers.

Understand the impact of a binding minimum wage on a labor market using supply and demand diagrams.

Analyze the effect of price elasticity of demand and supply on the burden of a tax.

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