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<br />### The table provides information on price, quantity demanded, and quantity supplied. We need to focus on the row where the price is $8.25.<br /><br />## Step 2: Calculate the surplus<br />### Surplus occurs when the quantity supplied exceeds the quantity demanded. At a price of $8.25, the quantity demanded is 40 units, and the quantity supplied is 57 units.<br />### Surplus = Quantity Supplied - Quantity Demanded = 57 - 40 = 17 units.