Physics
The wave of theory of light is based on

Huyghens' principle
The laws of reflection
The laws of refraction
The inverse square law

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Physics
Planets do not twinkle because

Their distance from the earth does not change with time
They emit light of a constant intensity
They are nearer to earth and hence we receive a greater amount of light.
They are very far away from the earth resulting in decrease in intensity of light

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