Final answer:
The memory profiler extension in Python has two magic functions: %memit for measuring the memory usage of a single statement, and %mprun for a line-by-line memory profile of functions to identify memory-heavy lines.
Step-by-step explanation:
The memory profiler extension for Python contains two useful magic functions: %memit and %mprun.
%memit is used to measure the memory usage of a single statement and provides an estimate of the used memory. This is particularly useful when trying to determine how much memory a specific command requires. Giving you an overview of memory consumption, it allows for a more efficient code, especially in data-intensive operations.
On the other hand, %mprun provides a line-by-line memory profile of a function. This helps in identifying specific lines of code that are using a lot of memory, enabling targeted optimizations. However, %mprun can only be used on functions defined in physical files, not on functions defined in the IPython environment.