(b)
Mg lie above Cu in electrochemical series and hence, Cu electrode acts as cathode
$E_{cell}^{{^\circ}} = E_{{Cu}^{2 +}/\ Cu}^{{^\circ}} = E_{{Mg}^{2 +}/\ Mg}^{{^\circ}}$
$\therefore 2.70\ V = 0.34 - E_{{Mg}^{2 +}/Mg}^{{^\circ}}$
$\therefore E_{{Mg}^{2 +}/\ Mg}^{{^\circ}} = - 2.36\ V$