Step 1: Determine half-cell potentials.
Oxidation potential of Mg is given as 2.37 V. Hence the reduction potential is −2.37 V.
Oxidation potential of Cd is given as 0.403 V. Hence the reduction potential is −0.403 V.
Step 2: Identify anode and cathode.
In the cell, Mg is oxidized and Cd$^{2+}$ is reduced.
Therefore:
- Anode (oxidation): Mg → Mg$^{2+}$ + 2e$^-$ (E° oxidation = +2.37 V)
- Cathode (reduction): Cd$^{2+}$ + 2e$^-$ → Cd (E° reduction = −0.403 V)
Step 3: Cell potential.
\[
E°_{cell} = E°_{cathode} - E°_{anode(reduction)}
\]
But since anode data is given in oxidation form, simply add:
\[
E°_{cell} = E°_{oxidation, Mg} + E°_{reduction, Cd} = 2.37 + (−0.403) = 1.967 V
\]
Step 4: Gibbs free energy change.
\[
ΔG° = −n F E°_{cell}
\]
where n = 2 electrons, F = 96500 C mol$^{-1}$.
\[
ΔG° = −2 \times 96500 \times 1.967
\]
\[
= −379963 J \approx −380 kJ
\]
\[
\boxed{ΔG° = −380 \, kJ}
\]