Assignment: THEORY OF CONSUMER CHOICE AND FRONTIERS OF MICROECONOMICS
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.