Expert answer:Theory of Consumer Choice and Frontiers of Microec

Solved by verified expert:Scenario: You have been asked to assist your organization’s marketing department to betterunderstand how consumers make economic decisions.Write a minimum of a 1,300-word analysis that includes the following in separate sections withappropriate headings:How demand curves are constructed using the theory of consumer choice.How consumer choice and the budget constraint are affected by:1. Higher wages2. Higher interest ratesThe role asymmetric information has in many economic transactionsThe Condorcet Paradox and Arrow’s Impossibility Theorem in the political economyPeople not being rational in behavior economicsUse the textbook as your only source.
theory_of_consumer_choice_and_frontiers_of_microeconomics___assessment_activity___week5___eco_365___ecampus.pdf

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ECO/365 » Assignment
Class Home
Week1
Due Nov 27, 11:59 PM
US/Arizona Time: Nov 05, 2017, 9:13 PM
Week2
Not Submitted
Week3
POINTS 13
Week4
Week5
ECO/365 (BSDR1N8RI2)
Full Syllabus
Practice/Simulation/Homework/Game
5.1
5.2
Theory of Consumer Choice and Frontiers of Microeconomics
Instructions
Assignment Files
Grading
Purpose of Assignment
Materials
Week 5 exposes students to subjects that are intended to whet their appetites for further study
in economics. Students will use the theory of consumer choice and the impact of the concepts
of asymmetric information, political economy, and behavior economics, to describe how
consumers make economic decisions.
Week 5 Grading Guide
Avoiding Plagiarism
Reference and Citations Guide
Assignment Steps
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
appropriate headings:
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. Failure to properly cite and reference the paper is
considered plagiarism. See the CWE page of the Library on how to prevent plagiarism.
Format consistent with APA guidelines, including an introduction, conclusion, citations, a title
page, and a reference page. The correct in-text citation for the textbook is (Mankiw, 2015) and
the reference is:
Mankiw, N.Gregory. (2015). Principles of Microeconomics, 7th Edition, Stamford, CT. Cengage
Learning.
Click the Assignment Files tab to submit your assignment.
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