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In in Re Polar Bear Endangered Species Act Listing, the Listing

question 349

True/False

In In re Polar Bear Endangered Species Act Listing, the listing of the polar bear as a threatened specie was challenged. It is not endangered today but could be in the future. The listing by the Fish and Wildlife Service (FWS) was attacked as arbitrary and capricious. The appeals court held that unless a specie can be shown to be threatened or endangered now it could not be listed

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Definitions:

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers, resulting in a stable market condition.

Demand Decreases

A reduction in the quantity of a good that consumers are willing and able to buy at each possible price.

Equilibrium Quantity

The amount of goods or services supplied and demanded at the equilibrium price, where the quantity supplied equals the quantity demanded.

Demand Increases

A situation in which the quantity of a product or service that consumers are willing and able to buy at a specific price rises.

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