In a shallow bowl, combine 1/2 cup flour, 1 teaspoon salt, 1/2 teaspoon pepper, paprika, garlic powder, and onion powder. Dredge the chicken breasts in the flour mixture, coating both sides.

In a large skillet, heat the vegetable oil over medium-high heat. Add the chicken breasts and cook for 5-7 minutes on each side, or until golden brown and cooked through. Remove the chicken from the skillet and keep warm.

Drain the oil from the skillet, reserving 1/4 cup drippings. In the same skillet, stir in 1/4 cup flour until blended. Gradually whisk in the chicken broth and milk. Bring to a boil, stirring constantly; cook and stir for 2 minutes or until thickened. Season with 1/4 teaspoon salt and 1/4 teaspoon pepper.

Return the chicken to the skillet, spooning the gravy over the top. Simmer for 5 minutes until heated through. Serve the chicken with the gravy over mashed potatoes, rice, or biscuits.