Question

3b.) mia just got a promotion from cashier at walmart to service desk manager. this increased her hourly wage from $13/hr to 18/hr. what will this do to mias demand for goods and services?
4b.) a medical study proves that consuming too much mountain dew will lead to heart health issues and likely decrease your life expectancy. what will happen to the demand for mountain dew?
5b.) sony increases the price of a new ps5 console from $400 to $500. how will this impact the demand for ps5 games?
6b.) a factory in the town of econoville employs 3,500 citizens of econoville. unfortunately, the

Explanation:

Step1: Analyze Mia's situation

When Mia's wage increases, her income rises. According to the law of demand for normal goods, as income increases, demand for goods and services (assuming they are normal goods) increases.

Step2: Analyze Mountain - Dew situation

A medical study showing negative health impacts of Mountain - Dew will change consumers' preferences. Consumers will be less willing to buy Mountain - Dew, so the demand will decrease.

Step3: Analyze PS5 situation

PS5 consoles and PS5 games are complementary goods. When the price of PS5 consoles increases, the quantity demanded of PS5 consoles decreases. Since they are complements, the demand for PS5 games will also decrease.

Answer:

3B. Mia's demand for goods and services will increase.
4B. The demand for Mountain Dew will decrease.
5B. The demand for PS5 games will decrease.