Refer to the Graphs Shown

question 54

Multiple Choice

Refer to the graphs shown. The burden of the tax is borne entirely by consumers in graphs:

• A) A and D.
• B) B and C.
• C) C and D.
• D) B and D.

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Definitions:

Equal Dignity Rule

A legal doctrine requiring that contracts authorizing someone to conduct a transaction must be executed with the same formality as required for the transaction itself.

Statute of Frauds

A legal doctrine requiring certain types of contracts, such as for the sale of land or goods over a certain value, to be in writing to be enforceable.

Respondeat Superior

A legal doctrine holding employers liable for wrongful acts committed by employees while performing their job duties.

Independent Contractor

A person or entity contracted to perform work for another entity as a non-employee, responsible for their own taxes and benefits.