Elements 10 Error 16

I'm running Photoshop Elements 10 on Mavericks. On lauch I'm getting an error code 16 and the application doesn't open. I've tried to download and run the license repair from Adobe and it doesn't respond. I've gone in and performed a disk permissions repair, and nothing.
This software is too expensive to keep having these problems (I've had nothing but problems with it since I purchased it...this is just a new issue.) If anyone can tell me how to fix this, I'd greatly appreciate it.
Thank you!

Applications > Utilities > Terminal.app
It will open the Terminal window. Copying and pasting the command reduces the chance of errors.
When you press enter, you will be asked for your password. As you type it, you will notice the cursor doesn't move. Just enter your password and press enter.

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