LiCO3 is the chemical formula for which compound?

LiCO3 represents the compound lithium carbonate. This can be understood by breaking down the formula into its constituent parts. The symbol "Li" stands for lithium, which is an alkali metal, and "CO3" stands for the carbonate ion, which consists of one carbon atom and three oxygen atoms. When these components combine, they form lithium carbonate, a compound commonly used in various applications including medicine and industrial processes.

In contrast, the other options do not correspond to this specific formula. Potassium iodide and potassium chloride involve potassium ions (represented by "K"), while magnesium is a different element altogether without any associated anion present in the context of the formula. Therefore, lithium carbonate is the correct identification for the compound represented by the formula LiCO3.