Question
Tesla plans to move its headquarters to Austin, Texas, a metro area with 1.1 million jobs. Tesla currently expects that half of its staff of
Tesla plans to move its headquarters to Austin, Texas, a metro area with 1.1 million jobs. Tesla currently expects that half of its staff of 15,000 will move and will fill the remaining positions by hiring new staff once the move takes place. Suppose the elasticity of supply is 4 and the elasticity of demand is -2. Determine the impact on the region's average equilibrium wage.
Give the correct answer with explaination and calculation using correct formula
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Auditing and Assurance Services
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
6th edition
978-1259197109, 77632281, 77862341, 1259197107, 9780077632281, 978-0077862343
