Economic efficiency is something much more than producing goods at the lowest possible cost. In involves providing individuals with the goods and services they desire, in the quantities, qualities, places, and times they desire them, with the least use of society’s scarce resources. In America, antitrust laws forbid the use of certain practices that are detrimental to competition. However, government creates laws to impose social and environmental regulation. What are the economic costs associated with environmental and social regulation? (EconEd 2007)