Question 8 2.5 pts If the wages of the employees at Sterling Cooper Advertising Agency increase by 30% and the quantity of labor demanded decreases by 80%, the elasticity of demand for labor is: O 0.24 O 267. 0.375. O 24D Question 7 2.5 pts Dr. Evil runs a zoo, and he is considering the purchase of a new attraction: sharks with laser beams attached to their head. The total cost of this new venture costs $11,000, which he will pay for immediately. This new attraction would allow Dr. Evil's zoo to generate additional revenue of $3,250 per year for four years, starting next year. If the interest rate is 5%, is this a good investment for Dr. Evil to undertake? Yes, because the net present value of the project is +$1.904.76. O'No because the net present value of the project is -$1,904.76. Yes, because the net present value of the project is +$524.34. No, because the net present value of the project is -$524.34