The following figure shows the demand and supply for a commodity in the domestic U.S.market as well as the global market.The commodity is imported from the rest of the world to the U.S.market.
Figure 10-3 
-Refer to Figure 10-3.The total producer surplus prior to trade was _____.
Definitions:
Perfectly Inelastic
A demand situation where the quantity demanded does not change in response to price changes.
Elastic
A characteristic of a demand or supply curve which shows a high responsiveness to changes in price.
Inelastic
Refers to a condition in which the demand or supply of a product or service remains largely unaffected by variations in its price.
Pure Monopolist
A market scenario where a single company or entity exclusively controls the entire supply of a particular product or service, without any close substitutes or competition.
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