Which of the Following Is True About the Union Carbide

question 63

Multiple Choice

Which of the following is true about the Union Carbide Bhopal plant?

• A) It met Indian safety standards .
• B) It was operated by Union Carbide technicians from the United States .
• C) It never met government regulations .
• D) It met both U.S. and Indian safety standards .

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Definitions:

Monopolistic Competition

A market structure characterized by many firms selling products that are similar but not identical, allowing for competition based on factors other than price, such as quality and branding.

Price

The monetary value attached to acquiring a good or service.

Downward Sloping

Illustrates a decrease or decline in value or quantity in response to an increase in another variable, often related to price and demand in economic contexts.

Demand Curve

A graph showing the relationship between the quantity of a good or service that consumers are willing to buy and its price.