The Precedence Diagram Method (PDM) of Constructing a Project Network

question 63

True/False

The precedence diagram method (PDM) of constructing a project network diagram uses boxes to represent dependencies (nodes) and lines with arrows to represent the activities.

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Definitions:

Oligopolistic Firms

are companies operating in a market structure characterized by a small number of firms controlling a large market share, leading to limited competition.

Rival Firms

Companies that compete against one another in the same market for consumers or resources.

ATC

Average Total Cost, which is the total cost of production divided by the total quantity produced, indicating the average cost per unit.

Territorial Division

The division or partitioning of land or space into separate areas, often for administrative or legal purposes.