Suppose there is a tax of $50 on bicycles which is collected from sellers. If the tax is reduced from $50 to $10 per bicycle, then the: supply curve will shift downward by $40. demand curve will shift downward by $40. demand curve will shift upward by $40. supply curve will shift upward by $40.

Lycan, inc., has 7.5 percent coupon bonds on the market that have 8 years left to maturity. the bonds make annual payments and have a par value of $1,000. if the ytm on these bonds is 9.5 percent, what is the current bond price? (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) current bond price