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How is scarcity related to competition? a.Scarcity produces disutility and competition produces utility. b.Scarcity is an effect of competition. c.Both scarcity and competition are effects

How is scarcity related to competition?

a.Scarcity produces disutility and competition produces utility.

b.Scarcity is an effect of competition.

c.Both scarcity and competition are effects of a rationing device.

d.Competition is an effect of scarcity.

e.Both scarcity and competition are effects of opportunity cost.

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