Members of the Supreme Court’s conservative majority seemed inclined on Wednesday to limit or even overturn a key precedent that has empowered executive agencies, threatening regulations in countless areas, including the environment, health care and consumer safety.

Each side warned of devastating consequences should it lose, underscoring how the court’s decision in a highly technical case could reverberate across wide swaths of American life.

Overruling the precedent, Solicitor General Elizabeth B. Prelogar told the justices, would be an “unwarranted shock to the legal system.”

But Justice Brett M. Kavanaugh responded that there were in fact “shocks to the system every four or eight years when a new administration comes in, whether it’s communications law or securities law or competition law or environmental law.”

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