Q.27. Due to inflation a consumers budjet is reduced to Rs 50. He is buying good one and good two. If the price of good one is Rs 2 per unit and good two is Rs 5 per unit. Draw a budget line on the basis of these figures and also explain the cocept of marginal rate of substitution.
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There is currently no consensus regarding the definition of life. One popular definition is that organisms are open systems that maintain homeostasis, are composed of cells, have a life cycle, undergo metabolism, can grow, adapt to their environment, respond to stimuli, reproduce and evolve.
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