The reaction involves the dehydration of ethanol to ethene, which is an example of an elimination reaction. The dehydration of alcohols occurs by the following mechanism:
- For option (1), the reaction proceeds with concentrated \( \text{H}_2 \text{SO}_4 \) at 443 K, which is a feasible condition for dehydration of ethanol to form ethene.
- For option (3), dehydration also occurs in the presence of 85% \( \text{H}_2 \text{SO}_4 \) at 440 K, which is again a feasible reaction.
- For option (4), the reaction takes place with 20% \( \text{H}_3 \text{PO}_4 \) at 358 K, which is also feasible under the given conditions.
- For option (2), the reaction occurs with 75% \( \text{H}_2 \text{SO}_4 \) at 300 K. However, at this relatively low temperature, the dehydration of ethanol to ethene is not favored, making this reaction non-feasible.
Thus, the correct answer is option (2).