3. Tuya spends $50 per week On groceries. He usually buys 5 oz. of his favorite cheese for $2 / oz., and spends the other $40 On other goods. One week, the store has a sale on cheese that lowers the price to $1 /oz. If rI'uya buys 8 oz. of cheese and spends $42 on other goods at this new price, how much is his equivalent variation from this price change? (Select one.) (a) More than $8: His consumption indicates that cheese is a luxury good. (b) $8: This is how much money he would need to afford the new bundle at the old prices. (0) Less than $8: His consumption indicates that cheese is a necessity good. ((1) Less than $8: He would substitute away from the new bundle at the old prices. (e) Between $5 and $8: This is the substitution effect without the income e'ect. (f) Between $5 and $8: This is the area under the demand curve between the two prices. (g) $5: This is how much money he would need to afford the old bundle at the new prices. (h) Less than $5: This is how much he would need to reach the old utility at the new prices. (i) $0: His budget for groceries did not change so there is no equivalent variation. (j) Uncertain: We would need to know his marginal rate of substitution to calculate this