Refer to the table. At the $8 wage, labor cost per unit of output is:

The price of a cowboy hat is $100. Willie is willing to pay $130, Waylon is willing to pay $100, and Merle is willing to pay $85. All of the following statements are true EXCEPT:

A) Merle's consumer surplus is $15. B) The sum of consumer surplus will be $30. C) Waylon's consumer surplus is $0. D) Only Willie and Waylon will purchase the cowboy hat. E) Willie's consumer surplus is $30.

If each 10 percent increase in the price of gasoline reduces by 2 percent the quantity purchased, the price elasticity of demand for gasoline is

A) .2. B) 5. C) 8. D) 12. E) 20.