Consider the following table: Price & Quantity Demanded & Quantity Supplied 7.85 & 50 & 39 7.90 & 45 & 45 8 & 43 & 50 8.25 & 40 & 57 What is the surplus caused by setting the wage price floor at 8.25 ? Write the exact answer. Do not round.

## Step 1: Identify the relevant data### The table provides information on price, quantity demanded, and quantity supplied. We need to focus on the row where the price is 8.25, the quantity demanded is 40 units, and the quantity supplied is 57 units.### Surplus = Quantity Supplied - Quantity Demanded = 57 - 40 = 17 units.