There are twelve District Federal Reserve Banks

The term "industry concentration":

A) refers to the degree of product differentiation in an industry. B) is a measure of how many firms produce the total output of an industry. C) refers to how capital or labor intensive a particular industry is. D) is a measure of how many customers purchase the total output of an industry.

The marginal product of labor (MPL) is given by the ________

A) labor share of income + average output per unit of labor B) labor share of income - average output per unit of labor C) labor share of income ÷ average output per unit of labor D) labor share of income × average output per unit of labor E) none of the above