Theory of Consumer Choice and Frontiers of Microeconomics
February 19th, 2023
You have been asked to assist your organization’s marketing department to better understand how consumers make economic decisions. Write a minimum of an 1,100-word analysis that includes the following:The impact the theory of consumer choice has on: Demand curvesHigher wagesHigher interest ratesThe role asymmetric information has in many economic transactionsThe Condorcet Paradox and Arrow’s Impossibility Theorem in the political economyPeople not being rational in behavior economicsCite a minimum of 3 peer-reviewed sources not including your textbook.Format consistent with APA guidelines.