Is the demand curve for your product relatively elastic, inelastic or unitary elastic? Demonstrate for your company's product, by how much the quantity demanded will change if you pass on the 25% increase in cost from the tariff as a price increase for your product. In other words, show your calculation of the percentage change in the quantity demanded given a 25% change in the price. Given your company's price elasticity of supply and price elasticity of demand prepare a statement for your board as to the potential impact of profits. Who will pay the the larger share of the tariff, your firm or your customers