I launched the emulator and it was just fine but Android Studio was not able to start a project. It just sat there and waiting for something. Then I closed everything and restarted. I Tried running my project on the emulator again and I got the Error running app: Instant Run requires 'Tools | Android | Enable ADB integration' to be enabled.
I referred to some of many other answers to my error. The Android 2.3.3 settings dialog is the little different than a newest Android Studio.
To fix my problem I went to following path "File -> Settings -> Build, Execution, and then to Deployment -> InstantRun". At a top of a dialog is the check box to "Enable Instant Run to hot swap code/resource changes on deploy. Then I closed and restarted my Android Studio. And opened my project and clicked on run button. My emulator started and a compiled app launched. And the problem got resolved for me.