Chemical Reaction Engineering
A space time of 3 hours for a flow reactor means that

Conversion is cent per cent after three hours
It takes three hours to dump the entire volume of the reactor with feed
The time required to process one reactor volume of feed (measured at specified conditions) is 3 hours
Three reactor volumes of feed can be processed every hour

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Chemical Reaction Engineering
A catalyst loses its activity due to

Agglomeration of metal particles caused by thermal sintering of the solid surface
Loss in surface area of the active component
All of these
Covering of the catalytic active sites by a foregin substance

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