Refer to Figure 4.4.3 above. When the price of pizza is $30, total expenditure and consumer surplus are, respectively:

A) $1000; $500.
B) $1500; $500.
C) $1500; $250.
D) $1000; $1000.

Consumer Surplus

The disparity between the ideal payment consumers are ready to make for a good or service and the real amount paid.

Total Expenditure

The overall amount of money spent by individuals, households, or an economy on goods and services over a specific period of time.