How would an economist evaluate the decision to attend college? From Principle1 are relevant to that decision and why? Any of these principles inform your own college attendance decision?

A. Principle #1: People Face Trade-offs 1. "There ain't no such thing as a free lunch." Making decisions requires trading one goal for another. 2. Examples include how students spend their time, how a family decides to spend its income, how the U.S. government spends tax dollars, and how regulations may protect the environment at a cost to firm owners. 3. An important trade-off that society faces is the trade-off between efficiency and equality. a. Efficiency: the property of society getting the most it can from its scarce resources. b. Equality: the property of distributing economic prosperity uniformly among the members of society