Mass Transfer
If a two phase system is in physical equilibrium; then it means that, the

Total pressure throughout the liquid phase is equal to that throughout the vapor phase
Escaping tendency of each component from the liquid phase to the vapor phase is exactly equal to that from vapor phase to liquid phase
All of these
Temperature of the liquid phase is equal to that of the vapor phase

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Mass Transfer
For absorbing a sparingly soluble gas in a liquid

Liquid side mass transfer co-efficient should be decreased
Gas side mass transfer co-efficient should be increased
Liquid side mass transfer co-efficient should be increased
Mass transfer co-efficient must be kept constant

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