The bounded arithmetic theories R2i, S2i, and T2i are closely connected with complexity theory. This paper is motivated by the questions: what are the Σi+1b-definable multifunctions of R2i? and when is one theory conservative over another? To answer these questions we consider theories , and where induction is restricted to prenex formulas. We also define which has induction up to the 0 or 1-ary L2-terms in the set τ. We show and and for . We show that the -multifunctions of (...) are FPΣip and that those of are FPΣip. For -definability we get FPΣi+k+1p for all these theories. Write for the set of terms 2min,t) where ℓ is a finite product of terms in τ and tL2. We prove and we show - INDτ provided τO2. This gives a proof theoretic proof that S2iΔi+1b-LIND and -LLIND solving an open problem. For τO2, we define using weak replacement axioms and show . We show if or if or if where τ′ has an unbounded term then PH=B. We separate PΣip from PΣip for behaved ℓ and deduce theory separations. We lastly introduce a notion of a model separating two theories and derive some consequences. (shrink)