2. what aspects of your decision-making process fit the description of a rational choice? did you consider costs and benefits? did you pay attention to both monetary and non-monetary factors? did you consider opportunity costs? explain.

The owner of firewood to go is considering buying a hydraulic wood splitter which sells for $50,000. he figures it will cost an additional $100 per cord to purchase and split wood with this machine, while he can sell each cord of split wood for $125. if, for this machine, design capacity is 50 cords per day, effective capacity is 40 cords per day, and actual output is expected to be 32 cords per day, what would be its efficiency?

Congressman patrick indicates that he is opposed to tax proposals that call for a flat tax rate because the structure would not tax those individuals who have the ability to pay the tax. discuss the position of the congressman, giving consideration to tax rate structures (e.g., progressive, proportional, and regressive) and the concept of equity.

Choose all that apply. a financially-responsible person has a budget has no plan spends less than they make pays for everything with a credit card saves their money pays bills on time