Which of the following is true?
a. Poverty, defined as the lack of a minimum level of consumption, could be potentially eliminated, but scarcity could not.
b. Scarcity could be potentially eliminated but poverty could not

Monopolistic competition is like monopoly with entry

Indicate whether the statement is true or false

If you drive on a rural stretch of highway and come upon an intersection in which there are two gas stations, and you know them to be the only ones for 100 miles, they are

A. monopolistic competitors. B. perfect competitors. C. monopolists. D. oligopolists.