Theory of Consumer Choice and Frontiers of Microeconomics

Scenario: You have been asked to assist your organization'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.