(Figure: Tax Incidence) Use Figure: Tax Incidence.All other things unchanged,the effect of an excise tax on gasoline in the long run is most likely illustrated by panel _____,and the greater share of the burden of the excise tax (shown by the tax wedge in each panel) is borne by _____.

A) A;buyers
B) B;sellers
C) B;buyers
D) A;sellers

Long Run

The time period in which all inputs can be varied.

Excise Tax

A tax levied on specific goods, services, or activities, often aimed at discouraging certain behaviors (like smoking) or generating revenue from specific sectors.

Tax Wedge

The tax wedge is the difference between what consumers pay and what producers receive for a good or service due to taxation, affecting supply and demand.