Theory of Consumer Choice and Frontiers of Microeconomics, homework help

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

 
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