The County Government Has Decided to Redo the Street and Plans

question 30

Multiple Choice

The county government has decided to redo the street and plans to block the street off which causes considerable inconvenience to people. The project has three parallel paths defined as follows: (i) path A-B-C-H to install street lights and electrical wiring that takes 16 days, (ii) path A-D-E-H to install sidewalks with handicap capabilities that takes 22 days, and (iii) path A-F-G-H to repave the street including storm drains that takes 30 days. Which one of the following statements is TRUE?

• A) The expected duration of the project is 30 + 22 + 16 = 68 days.
• B) Path A-B-C-H is the critical path.
• C) Path A-D-E-H has the largest slack time.
• D) Path A-F-G-H is the critical path.

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Definitions:

Demand Curve

A graph showing the relationship between the price of a good and the quantity of that good that consumers are willing and able to purchase at various prices.

Marginal Utility

The additional satisfaction or advantage a consumer experiences from consuming one more unit of a product or service.

Maximizing Utility

Maximizing Utility refers to the economic goal of consumers to gain the highest level of satisfaction from their consumption choices, within their budget constraints.

Salience of Prices

The degree to which the price of a good or service stands out to consumers and influences their purchasing decisions.