Theory of Consumer Choice and Frontiers of Microeconomics
***ONLY use the three references that I have provided in the attachment. DO NOT use your own.*** the three references are,
Principles of Microeconomics 7th edition by Nicholas Gregory Mankiw. I have provide chapter 21 and 22 in the word document.
Another look at the Theory of “Consumer Choice” by Harold G. Vatter
Applied economics, contrast explanation and asymmetric information by Tony Lawson
***Citation need to be done correctly by APA standards.***
***This is an analysis***
You have been asked to assist your organization’s marketing department to better understand how consumers make economic decisions.
Write a 825-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
Cite a minimum of 3 peer-reviewed sources not including your textbook.
Format consistent with APA guidelines.