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Which of the following are used as policy tools?
Economic Efficiency
Economic efficiency is a state where resources are allocated in such a way that maximizes the production of goods and services at the lowest cost, thereby optimizing societal welfare.
Demand Conditions
The various factors that influence the quantity of a product or service that consumers are willing and able to purchase.
Cost Conditions
Relate to the factors that influence the costs of production for goods and services, including material, labor, and overhead costs.
Cost Conditions
The factors that influence the costs associated with producing goods or services, including raw material prices, labor costs, and operational efficiencies.
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