You have been asked to assist your organization’s marketing department to better understand how consumers make economic decisions.
a 1,050-word analysis including the following:
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 are not rational in behavior economics.
a minimum of three peer-reviewed sources not including your textbook.
your paper consistent with APA guidelines.
Has to be completed by Monday July 3rd by 2pm Texas time.
ECO/365 Principles of Microeconomics
Theory of Consumer Choice and Frontiers of Microeconomics Grading Guide ECO/365 Version 10 Theory of Consumer Choice and Frontiers of Microeconomics Grading Guide ECO/365 Version 10 Principles of Microeconomics Copyright Copyright © 2016, 2015, 2014 by University of Phoenix. All rights reserved. University of Phoenix® is a registered trademark of Apollo Group, Inc. in the United States and/or other countries. Microsoft®, Windows®, and Windows NT® are registered trademarks of Microsoft Corporation in the United States and/or other countries. All other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended to imply endorsement, sponsorship, or affiliation. Edited in accordance with University of Phoenix® editorial standards and practices. Individual Assignment: Theory of Consumer Choice and Frontiers of Microeconomics Purpose of Assignment 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. Grading Guide Content Met Partially Met Not Met Comments: Student’s analysis includes the impact the theory of consumer choice has on: a. Demand curves b. Higher wages c. Higher interest rates Student’s analysis includes the role asymmetric information has in many economic transactions. Student’s analysis includes the Condorcet Paradox and Arrow’s Impossibility Theorem in the political economy. Student includes analysis about people not being rational in behavior economics. The paper is 1,050 words in length. Total Available Total Earned 10 #/10 Writing Guidelines Met Partially Met Not Met Comments: The paper—including tables and graphs, headings, title page, and reference page—is consistent with APA formatting guidelines and meets course-level requirements. Intellectual property is recognized with in-text citations and a reference page. Paragraph and sentence transitions are present, logical, and maintain the flow throughout the paper. Sentences are complete, clear, and concise. Rules of grammar and usage are followed including spelling and punctuation. Total Available Total Earned #/3 Assignment Total # 13 #/13 Additional comments: