(Answered) 1 explain the concepts of asymmetric informationas they

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1. Explain the concepts of asymmetric information,as they relate to microeconomics.

2. Explain the concept of political economy, as they relate to microeconomics.

3. Explain the concept of behavioral economics as they relate to microeconomics.

4. Correlate Microeconomics and budget constraints

5. How changes in prices affect the consumer's choices

6. Correlate Microeconomics and what the consumer can afford in regards to income and our needs

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