Answer:
the relationship between management and labor from one of conflict to one of cooperation.
Explanation:
The goal of Frederick Taylor and scientific management is to increase labor efficiency. He proposed specialization and training in order to have more efficient workers that can produce more per hour. At the same time, Taylor advocated for higher pay if efficiency and productivity increased. For example, if a worker produces 100 units, he/she should be paid twice than a worker that produces only 50 units.
Answer: a). Firm's growth rate = 10.5%
b). Next year's earnings = $30,940,000.00
Explanation: Earnings growth rate is the percentage change in earnings given specific variables.
The firm's earnings growth rate g = Return on equity (ROE) × Retained earnings (b) = 0.15(0.70)
g =0.105 or 10.5%
In finding next year's earnings, we multiply the current earnings times one plus the growth rate.
Next year's earnings = Current earnings(1 + g)
Next year's earnings = 28,000,000(1 + 0.105)
Next year's earnings = $30,940,000.00
2. It engages in business activities from which it may earn revenues and incur expenses.
Answer:
The correct answer is option C.
Explanation:
`If firms can easily enter and exit the market, then firms operating in the market will earn zero economic profit in the long run. This is because the short run is too short for firms to enter and exit so potential firms will enter and exit in the long run.
If the existing firms will be having negative profits, the firms having loss will exit the market. This will reduce market supply. As a result, the price level will increase. This will go on until all firms will have zero economic profits.
Similarly, if the existing firms are having positive economic profits in the long run, the other firms will enter the market. This will increase the market supply such that the price level decreases. This will go on till all the firms will be having zero economic profits.
