Assignment:
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:
1. The impact the theory of consumer choice has on:
- Demand curves
- Higher wages
- Higher interest rates
2. The role asymmetric information has in many economic transactions.
3. The Condorcet Paradox and Arrow's Impossibility Theorem in the political economy.
4. People are not rational in behavior economics.
Cite a minimum of three peer-reviewed sources not including your textbook.