Austin, TX has been one of the fastest-growing cities in the United States for several years, in terms of both its population and local economy. This is due to the great number of both high-tech and international companies that have chosen to locate there, which has brought many new jobs to the city. Draw a supply/demand graph of the market for housing in Austin, showing the effects of the above and given the additional information that the equilibrium price of housing in Austin has declined.

Austin, TX has been one of the fastest-growing cities in the United States for several years, in terms of both its population and local economy. This is due to the great number of both high-tech and international companies that have chosen to locate there, which has brought many new jobs to the city. Draw a supply/demand graph of the market for housing in Austin, showing the effects of the above and given the additional information that the equilibrium price of housing in Austin has declined.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter3: Supply And Demand: Theory

Section: Chapter Questions

Problem 8WNG

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