Theory of Consumer Choice and Frontiers of Microeconmics

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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