Final answer:
The net induced current in the conducting loop will be zero due to Faraday's law of electromagnetic induction.
Step-by-step explanation:
The net induced current in the conducting loop will be zero. This is due to Faraday's law of electromagnetic induction, which states that a change in magnetic field induces a current in a conducting loop. However, if the wire is already placed in the middle of the loop, the changing magnetic field generated by the growing current in the wire will cancel out the induced current and result in a net induced current of zero.
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