When a 2 Percent Increase in Price Generates a Greater

question 54

Multiple Choice

When a 2 percent increase in price generates a greater than 2 percent decrease in quantity demanded, then:

• A) demand is inelastic.
• B) total revenue increases as a result of the price increase
• C) total revenue decreases as a result of the price increase.
• D) demand is unit elastic.

Differentiate between the major federal acts that regulate toxic substances.

Grasp the requirements and impacts of environmental impact statements (EIS) and public water supply regulations.

Understand the regulatory framework for pesticide registration and usage in the U.S., including necessary approvals and standards for human health and environmental protection.

Identify the roles and responsibilities of federal acts in regulating chemicals, pesticides, and environmental hazards, including the TSCA, FIFRA, and CERCLA.