Theory of Consumer Choice and Frontiers of Microeconomics

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.

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