Answer:
To oppose applied magnetic field current will flow in anticlockwise direction
Explanation:
Given:
Uniform magnetic field directed vertically upward.
Current will flow in clockwise direction
Here loop of wire is suddenly contracts to half so diameter of loop is reduced.
Hence less number of magnetic field line pass through the loop. This change in magnetic field lines lead to flow of current.
Now from lenz law flow of induced current will oppose the cause of its production
Therefore, to oppose applied magnetic field current will flow in anticlockwise direction.