In the Long Run,the Greater Burden of a Specific Tax

question 13

Multiple Choice

In the long run,the greater burden of a specific tax will usually be absorbed by

• A)consumers.
• B)the party consumers or producers with the more elastic demand/supply curve.
• C)the party with the least elastic demand/supply curve.
• D)shareholders and employees of the firm in the form of reduced dividends and wages.

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Definitions:

Time-Driven

Refers to a method or process that is triggered or determined by the passage of time.

Activity-Based Costing

A methodology for calculating costs that distributes overhead and indirect expenses to products and services relative to the activities they utilize.

Customer Cost Analysis

The process of analyzing the costs related to acquiring and serving a customer, often to determine profitability.

Processing Batches

Groups of items or materials processed together through a production or manufacturing procedure at the same time.