A Bar Magnet Is Held Vertically with Its Upper End

question 3

Multiple Choice

A bar magnet is held vertically with its upper end a little bit below the center of a horizontal metal ring. The upper end of the magnet is its north pole, as shown in the figure. The bar magnet is now dropped. An observer views the ring from above its center. To this observer, how will the induced current in the ring behave as the magnet falls?

• A) The current will flow clockwise and be increasing.
• B) The current will flow clockwise and be decreasing.
• C) The current will flow counter-clockwise and be increasing.
• D) The current will flow counter-clockwise and be decreasing.
• E) The induced current will be zero.

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Definitions:

Market Price

The existing rate at which a service or asset is available for purchase or sale on the open market.

Perfectly Competitive Market

A market structure characterized by many buyers and sellers, free entry and exit from the market, homogeneous products, and perfect information where no single participant can influence the price.

Price Control

Government-imposed limits on the prices that can be charged for goods and services in the market, usually aimed at curbing inflation or protecting consumers.

Profit-Maximizing Quantity

The level of production at which a business achieves the highest amount of profit, where marginal revenue equals marginal cost.