Consider the world market for a particular quality of coffee beans. The following table shows the demand and supply schedules for this market.

a. Plot the demand and supply schedules on a diagram.
b. Identify the amount of excess demand or supply associated with each price.
c. Identify the equilibrium price in this market.
d. Suppose that a collection of national governments were somehow able to set a minimum price for coffee equal to $3.90 per kilogram. Explain the outcome in the world coffee market.