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Explain how consumers make economic decisions

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Reference no: EM131149809

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: Include Introduction & conclusion as well.

· 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..

Format consistent with APA guidelines.

Reference no: EM131149809

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