Imagine that a high school junior sold her old car at the end of the summer and now has the funds from the sale in her new automobile instead of saving that money to pay for her senior trip coming up next year. From an economist's pers this decision is likely to be true?

The decision is irrational because anyone can see that choosing a new automobile over a once in a lifetime seni resources

The decision is rational in the sense that it reflects the junior's preference for a new automobile over a senior trip

She is making a bad decision for herself.

The decision must have been made haphazardly and is therefore irrational.