1) A magnitude comparator is a circuit that compares two numbers and determines their relative magnitudes, indicating whether the first number is greater than, equal to, or less than the second number.
2) For an n-bit magnitude comparator, there are 2n inputs and 22n entries in the truth table. A 2-bit comparator has 4 inputs and 16 truth table entries, while a 3-bit comparator has 6 inputs and 64 truth table entries.
3) The document describes designing a 2-bit magnitude comparator using Karnaugh mapping to minimize the logic functions and drawing the logic diagram based on the minimized functions.