To generate higher profit margins producers must work to do?

2 answers:

7 0

The profit margin is the difference between the price charged for a good or service and the cost of producing it. Therefore it constitutes the profit for the producer.

<u>Two strategies can be followed to increase profit margins</u>

Lower average production costs: if the company is able to increase the efficiency of its production processes (for example, by introducing new organizatives techniques) it will be able to produce more units with the same amount of resources. Then the cost per unit produced decreases, and the company will earn a higher margin if continues charging the same price.
Product differentiation. The company introduces modifications in the product so that the perception that consumers have of it improves, and therefore consumers would be willing to pay a slighty higher price for purchasing that particular brand. If such modifications do not entail a larger increase in the cost per unit produced than the size of the price increase, then the firm will be able to increase its profit margins with this strategy.

Alex777 [14]3 years ago

4 0

Reduce the cost of the product's manufacturing costs & transportation costs?

You might be interested in

4. The last step of the ethical decision-making framework involves _______. weighing the various alternatives coming together to

Alja [10]

Answer: Opting a course of action that can extract the appropriate solution.

Explanation:

Ethical decision making model is the documentation that contains framework for guidance of project management professional of any organization to make best decision in ethical problems.

Choosing the option to deal with the problematic situation by generation of helpful solution is the last step of ethical decision making model.

Other options are incorrect because weighing options, brainstorming to achieve best outcome,identifying the issue are not the measures of the last action to be performed in ethical decision-making model.

7 0

3 years ago

Why is the Lichchhavi period called the 'golden age'?

kondor19780726 [428]

Answer: It is generally taught in the schools that Lichcchavi Period was the Golden Age because of the art and architecture, culture and language, and the socio-political structure the Lichchhavi kings brought.

Explanation:

7 0

2 years ago

Why would corporations, who believe

BARSIC [14]

Answer:

government policy

Explanation:

they believe

6 0

2 years ago

In a primitive tribe, Shantu fights with the other young men his age to impress the young women. As it turns out, several young

Alexxandr [17]

In a primitive tribe, Shantu fights with the other young men his age to impress the young women. As it turns out, several young women are attracted to him because he seems to be able to protect them and is rising in social status. In essence, Shantu's aggression can be explained in evolutionary terms as a display of <u> economic and social competition</u>

<h3>What is primitive tribe?</h3>

"Primitive tribal group" was the term given to this subcategory. A pre-agricultural way of life, or the practice of hunting and gathering, zero or negative population growth, and a very low literacy rate in compared to other tribal groups are some characteristics of this group.

Groups were designated PTGs if they met any one of the criteria. 52 towns were classified as a "primitive tribal group" at the conclusion of the Fifth Five Year Plan, based on suggestions made by the corresponding state governments. Twenty new groups were added at the conclusion of the sixth five-year plan, two more groups in the seventh five-year plan, and one more group in the eighth five-year plan, for a total of 75 groups.

To learn more about primitive tribe from the given link:

brainly.com/question/16726546

#SPJ4

7 0

2 years ago

Which of the following statements is not an argument against the electoral college system?

Serhud [2]

<span>The results depend upon how State congressional districts are drawn.</span>

3 0

3 years ago