When demand is perfectly elastic the entire tax burden falls on the _____.

If the foreign import demand curve intersects the home country's export supply curve in its horizontal portion, then:

a. the home country will suffer a loss from international trade. b. the home country will not gain from trade. c. the home country will gain from trade. d. the foreign country will not gain from trade.

Refer to Table 4-11. The equations above describe the demand and supply for Chef Ernie's Sushi-on-a-Stick. The equilibrium price and quantity for Chef Ernie's sushi are $60 and 20 thousand units. What is the value of producer surplus?

A) $100 thousand B) $200 thousand C) $600 thousand D) $800 thousand