The Diagram Below Shows the Activities on the Nodes, and the Table

question 101

Short Answer

The diagram below shows the activities on the nodes, and the table shows the normal time and crash time (in days) and cost for each activity.



$$\begin{array} { | c | c | c | c | } \hline \text { Activity } & \text { Normal Time } & \text { Crash Time } & \begin{array} { c } \text { Cost per day } \\\text { to crash }\end{array} \\\hline \text { A } & 6 & 6 & - - - \\\hline \text { B } & 10 & 8 & \$ 100 \\\hline \text { C } & 5 & 4 & \$ 300 \\\hline \text { D } & 4 & 1 & \$ 700 \\\hline \text { E } & 9 & 7 & \$ 500 \\\hline \text { F } & 2 & 1 & \$ 650 \\\hline\end{array}$$
-Determine which activities should be crashed to shorten the project by 1 day.

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Definitions:

Market Price

The market price is the current price at which a good or service can be bought or sold in a marketplace.

Tragedy of the Commons

The tragedy of the commons describes a situation in which individual users, acting independently according to their own self-interest, deplete or spoil shared resources, even as it is clear that it is not in anyone's long-term interest for this to happen.

Property Rights

Legal rights to possess, use, and dispose of land, buildings, or goods owned by an individual or entity.

Efficiency Savings

Denotes reductions in costs achieved through the optimization of resources and processes, leading to increased operational efficiency.