The exchange-correlation functional is a key component of density functional theory (DFT) that accounts for the complex interactions between electrons in a many-body quantum system. It combines both exchange and correlation effects, which arise from the indistinguishable nature of electrons and their interactions. This functional is essential for accurately describing the electronic structure of systems and plays a critical role in the Hohenberg-Kohn theorems and the Kohn-Sham approach.
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