Magnesium nitrate (Mg(NO3)2) is an oxidizing agent, as it causes oxidation (loss of electrons) of the O-II species to form O0, while it itself undergoes reduction (gain of electrons) to form magnesium nitrite (Mg(NO2)2).

To balance the chemical equation for this reaction, we can follow the steps outlined in the given content. Starting with the unbalanced equation:

**2 Mg(NO3)2 → 2 Mg(NO2)2 + O2**

We can add stoichiometric coefficients to each species, such that:

*c1 Mg(NO3)2 → c2 Mg(NO2)2 + c3 O2*

Next, we can set up a system of equations to ensure that the number of atoms of each element is conserved on both sides of the equation. This gives us:

*Mg: c1 = c2*

*N: 2c1 = 2c2*

*O: 6c1 = 4c2 + 2c3*

Since we have three unknown coefficients but only two equations, we must arbitrarily set one coefficient to a value of 1. Let's choose c1 = 1, which gives us:

*c1 = 1*

*c2 = 1*

*c3 = 1*

Substituting these values back into the chemical equation, we obtain the balanced equation:

*2 Mg(NO3)2 → 2 Mg(NO2)2 + O2*

This balanced equation describes the redox reaction between magnesium nitrate and oxygen, which produces magnesium nitrite and molecular oxygen.