Think about the markets for two goods. Both the supply and demand of good A is very

Question:

Think about the markets for two goods. Both the supply and demand of good A is very inelastic. Both the supply and demand of good B is very elastic.
(a) Compare the potential for price variability in the two markets.
(b) Which of these two is most likely to be the market for food? Why?
(c) Which of these two is most likely to be the market for ground beef? Why