ECO 365 Week 5 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:
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