What are the elements of new or open regionalism

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Reference no: EM132241506

1. Acme Tarp Company has decided to import some cotton tarps from India. About half of the tarps will be used to make tents. The other half will be used to make sails. Assume that importation is occurring under the Harmonized Tariff Schedule of the United States. Assume that the imported goods are valued by U.S. Customs at $10,000. What duty will Acme have to pay on the imported goods? What rules did you use to arrive at your decision?

2. What are the elements of “new” or “open” regionalism?

3. Although the marginal cost of producing a pure public good is always positive, some consumers can enjoy the benefits of pure public goods at zero marginal costs. Explain the apparent paradox, if one actually exists.

Reference no: EM132241506

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