Concept:
The pH of a solution is defined as the negative logarithm of the hydrogen ion concentration in the solution.
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Nitric acid (\(HNO_3\)) is a strong acid and completely dissociates in water, producing hydrogen ions.
Step 1: Write the concentration of hydrogen ions.
Since \(HNO_3\) is a strong acid,
\[
[H^+] = 0.001 = 10^{-3}
\]
Step 2: Substitute into the pH formula.
\[
pH = -\log(10^{-3})
\]
Step 3: Calculate the value.
\[
pH = 3
\]
Hence,
\[
\boxed{pH = 3}
\]