A. While the investments of two different funds, even for the same class, are most likely different, this is not the reason why two funds' prices are different.
The key reason is, a fund (either a mutual fund or an ETF)'s price you see today depends on its starting price. When a fund company introduces a new fund (mutual fund or ETF), it could be set at any price. What matters is how the fund price performs once launched, which typically mirrors the underlying asset class' performance.
If you understand this, you will know when you decide to buy a fund, its current price doesn't really matter, its future percentage gain or loss is what matters.