Hi Gilb,
thanks for that! I hadn't thought of it that way! There's more to the story though: because the movement of the rod (to the left) increases the area confined within the loop, the magnetic flux through it increases (flux = B times Area), and thus a displacement current is induced in the loop that counteracts the cause of its induction (Lenz's Law), i.e. a clockwise current, effectively a reduction of i. One might conclude, then, that v is simply zero at all times, but that doesn't make sense either, because then the flux doesn't change, no displacement current is induced, and there's nothing to counteract the v you calculated. In other words, if v is zero it can't be zero... So where's the "equilibrium point"?
The value of the displacement current is considered to be "epsilon naught" (8.854 x 10^-12) times the rate of change of the magnetic flux through the loop (d(flux)/dt).
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