During a holiday party at work, you pay $5 to buy a raffle ticket for a 128-gigabyte

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During a holiday party at work, you pay $5 to buy a raffle ticket for a 128-gigabyte iPad. You win the drawing. Based on a little research online, you discover that the going rate for a hardly used 128-gigabyte iPad is $300.

a. What was the opportunity cost of acquiring the iPad?
b. What is the opportunity cost of choosing to keep the iPad?

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Microeconomics

ISBN: 9781260521078

3rd Edition

Authors: Dean S. Karlan, Jonathan J. Morduch

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Question Posted: Oct 08, 2023 03:04 AM

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During a holiday party at work, you pay $5 to buy a raffle ticket for a 128-gigabyte

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a The opportunity cost of ac...View the full answer

Microeconomics

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