Theory of Consumer Choice and Frontiers of Microeconomics

Assignment Instructions:

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

Cite a minimum of 3 peer-reviewed sources not including your textbook.

Format consistent with APA guidelines.

Additional Requirements:

• Complete the assignment using your own words with correct spelling, punctuation, and grammar in APA format.  No plagiarism.
• If you are not using your own words or if you are quoting any information or definitions, make sure to cite the information by using proper APA format citations and don’t forget to include the source of the information as a reference on the references page by using proper APA format.
• Read and use the attached PDF, Word, and/or Power Point document(s) that are attached to this question in order to understand the necessary information in order for you to be able to complete the assignment accurately and completely.
• Read and use any other files that are attached to this question in order for you to be able to complete the assignment accurately and completely, if applicable.  Do not forget to include any other attachments as references and to use citations from them, if applicable.