Q1. One of your relatives suggests to you that our nation should stop trading with other countries because imports take away jobs also lower our national well-being. Elucidate how would you try to convince him that this is probably not the right way to look at international trade also its effects on the nation?
Q2. Suppose me also my roommate started a bagel delivery service on campus. List some of our fixed costs also express why they are fixed. List some of our variable costs also express why they are variable.