11. What factors determine the elasticity of the industry's labor demand curve? 12. Show how the minimum wage creates unemployment in a competitive market. 13. Discuss the impact of the minimum wage when there are two sectors in the economy: the covered sector (which is subject to the minimum wage) and the uncovered sector (which is not). 14. Discuss the implications of equilibrium for a competitive economy containing many regional markets when labor and firms are free to enter and exit the various markets. Why is the resulting allocation of labor efficient? 15. Describe the impact of a payroll tax on wages and employment in a competitive industry. Why is part of the tax shifted to workers? What is the deadweight loss of the payroll tax? 16. Why does the payroll tax have the same impact on wages and employment regardless of whether it is imposed on workers or on firms?