Theory of Consumer Choice and Frontiers of Microeconomics

MUST BE NEW AND ORIGINAL WORK NOT GIVEN TO OTHER STUDENTS. Write in a clear, concise, and organized manner; demonstrate ethical scholarship in the accurate representation and attribution of sources; and display accurate spelling, grammar, and punctuation. Include citations in the text and references at the end of the document in APA format.PLEASE READ INSTRUCTION CAREFULLY. IN TEXT CITATION AND MUST CITE ALL REFERENCE IN APA FORMATPurpose of Assignment Week 5 exposes students to subjects that are intended to whet their appetites for further study in economics. Students will use the theory of consumer choice and the impact of the concepts of asymmetric information, political economy, and behavior economics, to describe how consumers make economic decisions. 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:          The role asymmetric information has in many economic transactions.Demand curvesHigher wagesHigher interest ratesThe Condorcet Paradox and Arrow’s Impossibility Theorem in the political economy.People are not rational in behavior economics. Cite a minimum of three peer-reviewed sources not including your textbook. Format your paper consistent with APA guidelines.Grading GuideContentMetPartially MetNot MetComments:Student’s analysis includes the impact the theory of consumer choice has on:a. Demand curvesb. Higher wagesc. Higher interest ratesStudent’s analysis includes the role asymmetric information has in many economic transactions.Student’s analysis includes the Condorcet Paradox and Arrow’s Impossibility Theorem in the political economy.Student includes analysis about people not being rational in behavior economics.The paper is 1,050 words in length.Total AvailableTotal Earned10#/10Writing GuidelinesMetPartially MetNot MetComments:The paper–including tables and graphs, headings, title page, and reference page–is consistent with APA formatting guidelines and meets course-level requirements.Intellectual property is recognized with in-text citations and a reference page.Paragraph and sentence transitions are present, logical, and maintain the flow throughout the paper.Sentences are complete, clear, and concise.Rules of grammar and usage are followed including spelling and punctuation.Total AvailableTotal Earned3#/3Assignment Total#13#/13Additional comments: