A conducting wire of parabolic shape, initially y = x², is moving with velocity V = V₀î in a non-uniform magnetic field B = B₀(1 + (y/L)ᵝ)k^, as shown in figure. If V₀, B₀, L and β are positive constants and Δϕ is the potential difference developed between the ends of the wire, then the correct statement(s) is/are: