In the Baumol-Tobin analysis of transactions demand, scale economies imply that an increase in real income increases the quantity of money demanded ________, while an increase in the price level increases the quantity of money demanded ________

The cookie industry in Eatsweetland consists of 15 firms. The industry sales are $80 million per month. The sales of the largest 5 firms are shown in the table below. The rest 10 firms have sales of $3 million each

What is the four-firm concentration ratio in Eatsweetland's cookie industry? A) 63 percent B) 44 percent C) 87 percent D) 56 percent

Higher real income ________ the demand for money and a higher price level ________ the demand for money.

A. decreases; increases B. increases; decreases C. increases; increases D. decreases; decreases