Final answer:
The Mid-Atlantic Ridge is an underwater mountain range and rift system formed by the divergence of tectonic plates. It's characterized by volcanic activity, basaltic lava formation, and supports the study of Earth's magnetic field and mantle.
Step-by-step explanation:
The Mid-Atlantic Ridge is a mid-ocean ridge, an underwater mountain system formed by the movement of the Earth's tectonic plates. Specifically, the Mid-Atlantic Ridge is created by an oceanic divergent plate boundary where the Eurasian and North American plates are moving apart. This process is driven by upwelling currents from the Earth's mantle, causing molten rock to rise and solidify as basaltic lava, which forms the new ocean floor.
Volcanic activity along this ridge contributes to the formation of new crust, offering a unique way to study the interior of the Earth. The area is characterized by a central rift valley, and the constant extrusion of material can lead to reversible magnetization of rocks, evidencing the dynamic nature of the Earth's magnetic field.