A Project That Has Several Near-Critical or Critical Paths Is

question 5

Multiple Choice

A project that has several near-critical or critical paths is said to be

• A) elastic.
• B) fully consumed.
• C) inherently risky.
• D) sensitive.
• E) insensitive.

---

Definitions:

Indifference Curve

A curve representing all combinations of goods and services among which a consumer is indifferent, showing the same level of satisfaction or utility.

Budget Line

A graphical representation of all possible combinations of two goods or services that can be purchased with a given income and prices, identical to the concept of a budget constraint but rephrased.

Duality

Alternative way of looking at the consumer’s utility maximization decision: Rather than choosing the highest indifference curve, given a budget constraint, the consumer chooses the lowest budget line that touches a given indifference curve.

Marginal Utilities

Refers to the additional satisfaction or utility that a consumer receives from consuming one more unit of a good or service.