What was the opportunity cost of acquiring the ipod, Microeconomics

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What was the opportunity cost of acquiring the ipod

Problem

During a holiday party at work, you pay $2 to buy a raffle ticket for a 160-gigabyte iPod. You win the drawing. Based on a little research online, you discover that the going rate for a hardly used 160-gigabyte iPod is $200.

a. What was the opportunity cost of acquiring the iPod?

b. What is the opportunity cost of choosing to keep the iPod?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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