Examlex
Match the following priority rules with their descriptions.
A)Minimum Slack First
B)Most Critical Followers
C)Most Successors
D)Arbitrary
1)This heuristic orders activities by the amount of slack,least slack going first.
2)Tasks are arranged by number of activities following them.
3)Priorities are assigned to activities according to some rule not associated with task length,slack,or resource requirements.
4)Tasks are arranged by number of critical activities following them.
Supply Of Labor
The total number of workforce hours available for work in an economy at a given wage rate.
Perfectly Elastic
A situation where the quantity demanded or supplied changes infinitely in response to any change in price.
Marginal Expenditure Curve
A graphical representation that shows the change in total expenditure incurred by purchasing one additional unit of a good or service.
Economic Rent
Amount that firms are willing to pay for an input less the minimum amount necessary to obtain it.
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