The correct answer is option 1. Double Replacement.
The given chemical equation, 2 LiOH + Fe(NO₃)₃ → 2 LiNO₃ + Fe(OH)₃, represents a double replacement reaction. In this type of reaction, the cations and anions of two different compounds switch places, resulting in the formation of two new compounds.
In this specific case, lithium hydroxide (LiOH) reacts with iron(III) nitrate (Fe(NO₃)₃), leading to the formation of lithium nitrate (LiNO₃) and iron(III) hydroxide (Fe(OH)₃). The positive ions (Li⁺ and Fe³⁺) exchange places with the negative ions (OH⁻ and NO₃⁻), giving rise to the products.
The balanced equation for this double replacement reaction is:
2 LiOH + Fe(NO₃)₃ → 2 LiNO₃ + Fe(OH)₃
In summary, the given chemical reaction is a double replacement reaction where the ions in the reactants exchange positions to form new compounds.