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The Law of Supply states that price and
Sole Proprietorship
A company that is both owned and run by one person, with no separate legal identity between the proprietor and the business itself.
Separate Legal Entity
A business structure that is legally considered an independent entity separate from its owners, such as a corporation or LLP.
Limited Partnership
A partnership with general and limited partners.
Limited Liability
A legal structure that protects a company's owners or investors from being personally liable for the company's debts or liabilities beyond their investment in the company.
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Q71: Markets that fall between pure competition and