Explain the concept of material balance in chemical engineering and its importance in process design.
a) Material balance is the conservation of mass principle applied to chemical processes, ensuring that what goes into a system equals what comes out. It's crucial for determining process efficiency and minimizing waste.
b) Material balance refers to balancing chemical equations to ensure stoichiometric equivalence.
c) Material balance involves balancing the budget for materials used in a chemical process.
d) Material balance is irrelevant in chemical engineering.