Your task is to write a 3,000 word report to the Board of Director of Schmeckt Gut in which you address the following:- Do you think you can match the different projections? For example, do you think that a 5% increase in income is associated with a 10% tariff rate and a 2% inflation rate? Explain by linking your discussion to at least all of the following concepts. These must be discussed: Supply, demand and aggregated demand and aggregated supply, the Philipps Curve and the Laffer curve. - What impact would the different predictions of income development, inflation rate development and tariff rate development have on the potential demand of Schmeckt Gut? Conduct a multiple regression analysis (in log-linear form) with interpretation of the results.Discuss and explain.- Discuss what the Board of Directors should do under each of your scenarios, based on your matching of the predictions.