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.
Answer:
I hope thus may help
Explanation:
These three components of the educational process – political knowledge, normative values and expected behaviors – will stand at the base of the aspects of civic education to be presented next.
In Odessa, Texas, has a Council-Manager Government.
<h3><u>
What is Council-Manager Government?</u></h3>
- One of the five main forms of municipal government that can be found in American cities and towns is council-manager government.
- The mayor-council, commission, town meeting, and representative town meeting are the other four.
- In a council-manager system, an elected city council acts as the main legislative body of the municipality and appoints a chief executive officer known as a city manager to oversee daily municipal operations, create a budget, and carry out and enforce the council's policy and legislative initiatives.
- The mayor, who may be elected at-large and who officially represents the city on the state, national, and international levels, is a component in the majority of council-manager systems.
For municipalities, counties, or other comparable territories, the council-manager form of local government is utilized. Along with mayor-council governance, it is one of the two most popular types of local government in the US. It is also popular in Ireland. For city and county governments, the council-manager model is also utilized in Canada and many other nations including Odessa, Texas.
Therefore, In Odessa, Texas, has a Council-Manager Government.
Know more about Council Manager Government with the help of the given link:
brainly.com/question/26965249
#SPJ4
