I wouldn't worry, the paper should pass. He could have some stomach upset or some constipation although since he ate so little I'm sure he will be just fine.
Lukas usually shreds paper versus eating it, but has gotten to some used paper towels in the kitchen garbage.
If he starts displaying any abnormal behavior, diarrhea, pain, vomiting, or swelling take him to the Vet. But all should be fine... Ah, the joys of dog ownership. hehe
