Explain your answer Following on from the previous answer, Scotland has the comparative advantage in guitar production as the opportunity cost of giving up motorcycle production is lower than that of Ireland . A motorbike A guitarIreland 10 hours 2.5 hoursScotland 9 hours 2 hoursQuestion 3Refer to the table below. The table contains information on the corn market. Use the table to answer the following questions.∗ What are the equilibrium price and quantity of corn? The equilibrium price for corn production is $15 per bushel, which translates to 15,000 bushels of demand and 15,000 bushels of supply. ∗ Suppose the current price is $9 per bushel. Is there a shortage or surplus in the market? If the price is $9 per bushel, then there is a shortage in the market. ∗ What is the shortage or surplus quantity? The shortage results in a demand for 22,000 bushels, while only 9,000 bushels are supplied.∗ If the market price is $9 per bushel, what must happen to restore equilibrium in the market? Explain what it would be like