THEORY OF CONSUMER CHOICE AND FRONTIERS OF MICROECONOMICS

Assignment Steps

Scenario: You have been asked to assist your organization’s marketing department to better understand how consumers make economic decisions.

Write a 1,050-word analysis including the following:

*The impact the theory of consumer choice has on:

Demand curves

Higher wages

Higher interest rates

*The role asymmetric information has in many economic transactions.

*The Condorcet Paradox and Arrow’s Impossibility Theorem in the political economy.

*People are not rational in behavior economics.

Format your paper consistent with APA guidelines.