Scenario: You have been asked to assist your organization’s marketing department to better
understand how consumers make economic decisions.
Write a minimum of a 1,300-word analysis that includes the following in separate sections with
How demand curves are constructed using the theory of consumer choice.
How consumer choice and the budget constraint are affected by:
1. Higher wages
2. 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
Use the textbook as your only source.
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