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 that includes 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 not being rational in behavior economics
Explanation of concepts and theories requires examples and evidence.
Cite a minimum of 3 peer-reviewed sources. Use your textbook and other sources–but realize these other sources don’t count toward the minimum 3 peer-reviewed sources. Avoid online encyclopedia, online dictionaries, or specialized websites as primary sources.
Format consistent with APA guidelines.