The kind of lighting you choose will be a huge factor in the cost of lighting installation. Simple lighting can be pretty affordable, but more expensive fixtures will bring up the cost of installation-as will antique chandeliers or fixtures.
a change in supply is the shift in supply curve due to change in price of other commodities and other factors like taste,weather,income e.t.c while a change in quantity supply â¦ is the change in price of the commodity itself that affect the quantity supply,here the supply curve remain constant but there will be a movement along the supply curve.
So we have, when we had, based on the way we calculated it, it's 67% increase in price, we had a 46% increase in quantity supplied. So this is a 46% increase in quantity supplied. And so we could see it's going to be 40. Our elasticity of supply is going to be 46% over 67%. So it's going to be something less than 1. So that's going to be that divided by-- it's actually 0.6666 and it keeps going on forever-- gets us to 0.69. So this gives us an elasticity of supply of 0.69. And maybe I should say approximately 0.69, which tells us that we get a smaller percent. At least at this price point right over here, we get a smaller percent change in quantity supplied than our percent change in price.