The Shortest Time in Which the Entire Network Can Be

question 20

Multiple Choice

The shortest time in which the entire network can be completed is referred to as the __________.

• A)critical time of the network
• B)real duration of the network
• C)elapsed time of the network
• D)slack time of the network

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Definitions:

Initial Endowment

The initial set of assets, financial resources, or goods that an individual, institution, or economy possesses.

Utility Function

A mathematical representation that describes how consumers rank different bundles of goods according to the levels of satisfaction or utility those bundles provide.

Edgeworth Box

A diagram used in economics to show the distribution of resources and to find the optimal allocation for two individuals.

Contract Curve

In economics, it refers to the locus of optimal points of allocation of resources between two parties under the constraints of their respective utility functions.