2) Consider the market for food, with the supply of food generally pricing elastic but demand for food is very price inelastic. a. Graph the market in equilibrium. Indicate the equilibrium price and the equilibrium quantity. b. Graph a tax imposed on the suppliers of food, indicating the new equilibrium price faced by both sides of the market and the new quantity. (feel free to assign values to the price and quantity, or just use P1, Q1.) c. Who would bear the incidence of the tax, and why? d. Would you consider this tax progressive? Why or why not?