Question 4: Consider the world market for a particular quality of coffee beans. The following table shows the demand and supply schedules for this market. Price (per kilogram) Quantity Demanded (millions of kilograms per year) Guanty Supplied 52.00 23 '10 $2.40 26 1 2 32.60 24- 15 53.50 1 $1.5 19.5 83.90 1? 22 5d. 30 1-1.5 23.5 Plot the demand and supply schedules on a diagram Identify the amount of excess demand or supply associated with each price Identify the equilibrium price in this market 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 in terms of excess demand or supply. 51-95?!\