Waiting for answer This question has not been answered yet. You can hire a professional tutor to get the answer.

QUESTION

YTHOMIT ONLY ALL OTHERS PLEASE DO NOT MESSAGE ME

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. 

Assignment Steps 

Scenario: You have been asked to assist Starbuck's marketing department to better understand how consumers make economic decisions. 

Write 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. 

Cite a minimum of three peer-reviewed sources not including your textbook. 

Format your paper consistent with APA guidelines.

Show more
LEARN MORE EFFECTIVELY AND GET BETTER GRADES!
Ask a Question