The diagram below shows the demand and supply curves for refrigerators in Canada. 
FIGURE 34- 1
-Refer to Figure 34- 1. At the price P0, the quantity of refrigerators imported into the Canadian market is
Definitions:
Planning Budget
A Planning Budget is a financial plan constructed for future periods, outlining expected revenues, expenses, and other financial activities, guiding an organization in achieving its financial goals.
Revenue
The total amount of money received by a company for goods sold or services provided during a certain time period.
Oil Well Service
A category of services aimed at the maintenance, workover, and completion of oil wells to enhance or maintain their production efficiency.
Activity Variance
The difference between actual activity levels and those projected, affecting budgeted and actual costs.
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