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Question 8 (7 marks) Consider the following table from Unit 7 of the textbook. It shows the spending per week in each category of a US consumer whose total expenditure on food is $80, with typical spending patterns across food categories. Suppose that the price of category 30, high-calorie milk products, increased by 10%: 1. By what percentage would his demand for high-calorie milk products fall? (1 mark) Your answer. 2. Calculate the quantity he consumes, in grams, before and after the price change. (2 marks) Your answer. 3. Calculate his total expenditure on high-calorie milk products before and after the price change. You should find that expenditure falls. (2 marks) Your answer. 4. Now choose a category for which the price elasticity is less than 1 and repeat the calculations. In this case you should find that expenditure rises. (2 marks) Your