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Water deficit (WD) decreases photosynthetic rate (A) via decreased stomatal conductance to CO₂ (g_s) and photosynthetic metabolic potential (A_pot). The relative importance of g_s and A_pot, and how they are affected by WD, are reviewed with respect to light intensity and to experimental approaches.

With progressive WD, A decreases as g_s falls. Under low light during growth and WD, A is stimulated by elevated CO₂, showing that metabolism (A_pot) is not impaired, but at high light A is not stimulated, showing inhibition. At a given intercellular CO₂ concentration (C_i) A decreases, showing impaired metabolism (A_pot). The C_i and probably chloroplast CO₂ concentration (C_c), decreases and then increases, together with the equilibrium CO₂ concentration, with greater WD. Estimation of C_c and internal (mesophyll) conductance (g_i) is considered …