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HOMO and LUMO are acronyms for Highest Occupied Molecular Orbitals and Lowest Unoccupied Molecular Orbitals respectively. The energy level difference of the two (HOMO-LUMO) can (sometimes) serve as a measure of the excitability of the molecule: the smaller the energy, the easier it will be excited.
See also Diels-Alder reaction, Electron configuration
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