Supply and Demand of multi - vitamin pills A key skill in economics is the ability to use the theory of supply and demand to analyze specific markets. In this project, you get a chance to demonstrate your ability to analyze the effects of several "shocks" to the market for your product. Answer all parts of each of the scenarios below. Scenario 1: Suppose that, as part of an international trade agreement, the U.S. government reduces the tariff on your imported product. Will this affect the supply or the demand for your product? Why? Which determinant of demand or supply is being affected? Show graphically with before- and after-curves on the same axes. How will this change the equilibrium price and quantity of your product? Explain your reasoning