A Moving to another question will save this response. > Question 5 2 points Save Answer FAO, the Food and Agriculture Organization, is a specialized agency of the United Nations that leads international efforts to defeat hunger and improve nutrition and food security. According to their research, price elasticity of demand for sugar ranges from -0.80 in Japan, to -0.10 in the US and the European Union. In country XYZ, due to rising production costs, the equilibrium price of sugar increases from $0.90 to $1.00, and the equilibrium quantity decreases by 20%. Based on this information, the price elasticity of demand of sugar in country XYZ is approximately O -1.5, which is much higher (in absolute value!) than the price elasticity of sugar in most countries. O -0.5, which is much higher (in absolute value!) than the price elasticity of sugar in most countries. O -0.5, which is within the range of elasticity numbers we observe in the real world. O -2.0, which is much higher (in absolute value!) than the price elasticity of sugar in most countries. None of the above. Moving to another question will save this response.