The figure below shows the market for the least-skilled (least-experienced) labor. Wage/Hour $8.50 $6.50 B D $4.50 F 10 0 H Supply 5K SS 10K 15K A price floor in this market causes a of workers. 2 O surplus: 10,000 O surplus: 5.000 O shortage; 10,000 O surplus: 15,000 O shortage: 5.000 Demand Quantity The figure below shows the market for the least-skilled (least-experienced) labor. Wage/Hour $8.50 $6.50 A B D $4.50 F 0 0 H 5K 10K 15K At an imposed price floor, consumer surplus is represented by area: OH O A+B+C C+E O F+G OA Supply Demand Quantity The figure below shows the market for the least-skilled (least-experienced) labor. Wage/Hour $8.50 $6.50 B D $4.50 F H HE SK 10K 15K Supply Demand Quantity At an imposed price floor, the area of Deadweight loss or loss of economic surplus is represented by area: OB+C+D+E OF+G+H C+E+H 8+0 OCE