J.R. S. answered 11/30/17
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You will need to use the Nernst Equation
Ecell = Eºcell - RT/nF lnQ
R = 8.314 J/mol-K
T = temp in K
n = # moles of electrons transferred
F = Faraday constant = 96485 C/mole electrons
Q = reaction quotient
If at STP, then this expression reduces to
Ecell = Eºcell - 0.0592/n log Q
So, you need to look up reduction potentials for Mg2+ and Fe3+, write the balanced half reactions, determine # electrons transferred, determine Eºcell and the value of Q (0.001/0.1). Then use the above equation to solve for Ecell