Which of the following statements about miscible liquids is correct?

The correct statement regarding miscible liquids is that the components form a homogeneous solution and each exerts its own vapor pressure. Miscible liquids are those that fully dissolve in one another in any proportion, resulting in a uniform mixture. This uniformity indicates that a homogeneous solution is formed, where the individual components cannot be distinguished apart.

In such a mixture, each liquid retains its own characteristics, including its vapor pressure. Therefore, even though the liquids are mixed, each component still contributes to the total vapor pressure of the solution. This contribution follows Raoult's Law, which states that the partial vapor pressure of each component in the solution is proportional to its mole fraction in the mixture. This means that the total vapor pressure of the solution can be calculated by summing up the individual vapor pressures of each component, based on their respective concentrations.

The other statements do not accurately describe the nature of miscible liquids in the context of solutions and their physical properties.