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Cloning is a procedure by which exact genetic duplicates are made. A litter of cloned rabbits was born from a single surrogate mother rabbit. Despite being genetically identical, each of the baby rabbits looked very different from one another. Explain in detail why this might have occurred.
Total Utility
The total satisfaction received from consuming a particular quantity of goods or services.
Real Income
The amount of goods and services that can be purchased with nominal income during some period of time; nominal income adjusted for inflation.
Increase in Price
A rise in the cost of goods or services, often due to factors like inflation, increased demand, or production costs.
Budget Line
A graphical representation of all possible combinations of two goods that can be purchased with a given budget at set prices.
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