The analysis of consumer decision making based on utility maximization is known as

The Leontief paradox found that:

a. exports should always be capital intensive. b. imports should always be labor intensive. c. U.S. exports were labor intensive. d. U.S. exports were capital intensive

When the price of pizzle trees increased by 20 percent last year, consumers ended up spending 10 percent more on the purchase of pizzle trees. This shows that the demand for pizzle trees

A) was elastic. B) was inelastic. C) was unit elastic. D) did not obey the law of demand.