Answer: They resigned due to involuntary departure.
Explanation:
Involuntary departure can happen to an acting CEO in any company. They CEO may have the backing of some of the majority shareholders but only a few can decide to oust them by involuntary departure.
There are several reasons listed why they are ousted such as;
- Unexpected poor performance
- CEO took retirement early
- CEO resigned without knowledge of the board members
- CEO wanted to find new job opportunities.
At the profit-maximizing output, this firm's total profit will be $280.
<h3>Who is a monopolist?</h3>
A monopolist is a single firm that operates in an industry. There is only one firm in the industry because there are usually high barriers to entry of firms. The demand curve is downward sloping. A monopoly sets the price for its goods and services.
Profit is maximised when marginal revenue is equal to marginal cost. Looking at the given table, marginal revenue is equal to marginal cost when output is 4 and price is $70
Total profit = 70 x 4 = $280
To learn more about monopolies, please check: brainly.com/question/10441375
Answer:
Increase expenditure or cut taxes to increase aggregate demand.
Explanation:
A recessionary gap is a macroeconomic term which portrays an economy working at a level underneath its full-employment equilibrium. Under a recessionary gap condition, the degree of real gross domestic product (GDP) is lower than the degree of full employment, which puts descending pressure on prices over the long haul.
When supply goes down, the equilibrium price goes up. This is because if there is a smaller supply the good becomes more valuable to people who want the good.
