Rational, or Not?

Eli has a job that pays him $10/hr. He doesn't normally like to pay more than $3 for an ice cream cone, so last week he left work a half-hour early to get a free ice cream cone that normally costs $4.50.

• Rational

• Irrational

Sam forgot to eat breakfast yesterday, so he offered to pay someone in his class $5 for their Snickers chocolate bar.

• Could be Rational

• Cannot be Rational

Jane has $5,000 in her chequing account that she is not spending and is earning no interest. She also has a savings account with the same bank that earns 1 percent interest.

• Rational

• Irrational

Tom loves cars and just bought a classic Mustang for $15,000. As he was driving home, his neighbour offered to buy the car from him for $20,000, but Tom refused.

• Could be Rational

• Cannot be Rational

A.Cate had a chance to buy sold-out Taylor Swift tickets with a $100 face value for $150 last week, but she was not willing to pay $150 to see Taylor Swift. Today she won the same tickets in a radio contest. When someone offered to pay her $150, she refused to sell.

• Rational

• Irrational