Concept:
Slack is the amount of time by which an event may be delayed without affecting the project completion time.
It is calculated as
\[
\boxed{\text{Slack} = \text{Latest Event Time} - \text{Earliest Event Time}.}
\]
For critical events,
\[
\text{Latest Event Time}=\text{Earliest Event Time},
\]
therefore the slack is zero, which is the minimum possible value.
Step 1: Define slack.
Slack represents the scheduling flexibility available for an event.
\[
\text{Slack}=L-E.
\]
Step 2: Identify the critical event.
For every critical event,
\[
L=E,
\]
hence
\[
\boxed{\text{Slack}=0.}
\]
Since zero is the minimum value of slack,
\[
\boxed{\text{Slack is minimum for critical events}.}
\]
Therefore, the correct option is
\[
\boxed{(D)\;\text{Is minimum for critical events}.}
\]