Suppose you are advising an industry association on the predicted effects of a price change on quantity demanded and total expenditure on its product. The current price is $1.40 per unit, and quantity demanded is 3000 units per day. Based on extensive empirical studies, you know that price elasticity of demand for the product is 0.9. If the price increases to $2.40 per unit, what is the predicted percentage change in quantity demanded? Will total expenditure increase or decrease? (Remember to use the averaging method to calculate the percentage change in price.) The predicted percentage change in quantity demanded is%. (Enter your response rounded to the nearest integer. Do not include a negative sign in your response.) Will total expenditure increase or decrease? Total expenditure is related with price because the price elasticity of demand is so total expenditure will