A consumer had saved $700 and chose to use the money on a new television instead of a new washing machine. On visiting the shop, she found that the television cost $500 and the washing machine cost $400. She purchased the television. What were the consumer surplus and the opportunity cost?
- Aconsumer surplus $100, opportunity cost $400
- Bconsumer surplus $200, opportunity cost the washing machine
- Cconsumer surplus $200, opportunity cost $500
- Dconsumer surplus $400, opportunity cost the washing machine