Describe in detail and with examples theory of consumer choice, asymmetric information, political economy, and behavioral economics. Describe the ultimatum game. What outcome from this game would conventional economic theory predict? Do experiments confirm this prediction? Explain.

In one doc Answer the following questions and add link sources no plagiat:

1. Describe the aspects of the theory of consumer choice. Define a consumer’s indifference curve and explain the properties of this curve.

2. Describe in detail and with examples theory of consumer choice, asymmetric information, political economy, and behavioral economics. Describe the ultimatum game. What outcome from this game would conventional economic theory predict? Do experiments confirm this prediction? Explain.

3.Give several examples of environmental forces that might affect supervisors and require changes to an organization.

4. Read Case 15-A “Technology Drives Change” (pp. 426-427) and answer “Responding to the Case”.

5. Describe the pieces of legislation that have been most important in defining the rights of management and unions? Provide the highlights of each.

6. Read Case 16-B “Faragut Services Faces a Union Challenge” (p. 450) and answer “Responding to the Case”.