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Restrictions on the number of international students allowed to study in Canada is an import quota.
Fixed Manufacturing Cost
Costs that do not vary with the level of production output, such as rent, salaries, and insurance, which are necessary for the production process but remain constant regardless of the units produced.
Units Produced
The total number of units of product completed in a given period by a company.
Contribution Margin
The amount remaining from sales revenue after variable expenses are deducted, contributing to covering fixed costs and generating profit.
Average Costs
The total costs (fixed and variable) divided by the total quantity produced, indicating the cost per unit of output on average.
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