When a magnet is dropped towards a copper loop, its acceleration is less than that of gravity due to the opposing forces generated by Lenz's law. As the magnet falls, it induces an electrical current in the copper loop, which creates an opposing magnetic field. This induced current, resulting from the changing magnetic flux, generates a force that slows the magnet's descent. The phenomenon is explained by the concept of eddy currents, which arise in conductive materials like copper. Ultimately, the interaction between the magnet and the loop demonstrates the principles of electromagnetic induction.