Which of the following is a firm's supply curve in a perfectly competitive market?

Explain the difference between induced consumption expenditure and autonomous consumption expenditure. Why isn't all consumption expenditure induced expenditure?

What will be an ideal response?

In a partnership

A) each partner's liability is limited to their investment in the company. B) profits are taxed at both the corporate rate and the personal income tax rate. C) upon the death of a partner it may be necessary to sell the business. D) there is a separation of ownership and management like in a corporation.