The replacement reaction will not occur because iodine is less reactive than chlorine.
A replacement reaction is a type of reaction in which one element is replaced by another in a compound.
The principle behind one element replacing the other is based on the reactivity of an element. A more reactive element will displace a less reactive one.
According to this question, the following displacement reaction is given: MgCl2 + I2 → ?
This reaction will not occur because chlorine is more reactive/electronegative than iodine, hence, iodine cannot displace it.
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