Which one of the following is an example of a nondiversifiable risk?

Select one:

a. a well-managed firm reduces its work force and automates several jobs

b. a well-respected president of a firm suddenly resigns

c. a key employee suddenly resigns and accepts employment with a key competitor

d. a well-respected chairman of the Federal Reserve suddenly resigns

e. a poorly managed firm suddenly goes out of business due to lack of sales