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Refer to the graphs shown.Higher costs of production combined with an expectation on the part of consumers of higher prices in the future would result in the shifts depicted in:
Capital Lease
A lease agreement that grants a lessee essentially all the risks and rewards of ownership, so it's accounted for on the balance sheet as an asset and liability.
Income Tax Expense
The amount of money a company is required to pay in taxes based on its taxable income, accounted for in the income statement.
Deferred Tax Liability
A tax obligation that a company owes but is not required to pay until a future date, often resulting from differences in accounting practices.
Tax Laws
The legal standards and regulations governing the collection of taxes by the government from individuals and entities.
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