If the producer finds a new, efficient way to produce their product that will make it cheaper, which determinant of supply are we talking about?

5. which of the following is an individual’s social equal? teacher x self ✓ peer group state

Horton automatics and the industrial division of the communications workers of america, the union that represented horton’s workers, negotiated a collective bargaining agreement. if an employee’s discharge for a workplace-rule violation was submitted to arbitration, the agreement limited the arbitrator to determining whether the rule was reasonable and whether the employee had violated it. when horton discharged employee ruben de la garza, the union appealed to arbitration. the arbitrator found that de la garza had violated a reasonable safety rule, but “was not totally convinced” that horton should have treated the violation more seriously than other rule violations. the arbitrator ordered de la garza reinstated. can a court set aside this order

Analyze: according to adam smith, why is competition a good thing? explain.