Consider a city where a new automobile factory is scheduled to open. The factory will employ 1,000 people, and the city's employment multiplier for the automobile industry is 2.5. The city's elasticity of labor supply is 1.8, and its elasticity of labor demand is -0.7. At present, 50,000 people work in the city. By what percentage will wages increase after the factory opens? How many people will work in the city? Show your work.