Consider the following statements.
1. In the single channel queueing model, if μ = λ the queue length would be infinite.
2. In the simplex solution procedure for an LP problem, the shadow prices of the resources are identified with the variables which are included in the optimal solution.
3. In the case of gradual receipt of the ordered quantity, the EOQ will be larger than the EOQ in the case of instantaneous receipt.
4. Time is the only variable in PERT Indicate the correct answer.

A. Statements 1 and 2 are true, others are not

B. Statements 2 and 3 are true, others are not

C. Statements 1, 3 and 4 are true, but Statement 2 is false

D. All the statements are true

Answer: Option C