Liquid-vapor equilibrium refers to the state in which a liquid and its vapor coexist at a given temperature and pressure, with the rates of evaporation and condensation becoming equal. This balance means that the amount of liquid turning into vapor is the same as the amount of vapor condensing back into liquid, resulting in no net change in the quantities of each phase. Understanding this equilibrium is crucial for analyzing phase behavior and the relationships between physical states in thermodynamic processes.
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