Milk is an emulsion in which: (1) A gas is dispersed in water (2) Lactose is dispersed in water (3) Milk fat is dispersed in water (4) A solid is dispersed in water

Answer: (3)

Milk is an emulsion of milk fat (liquid phase) in water. An emulsion can be defined as a colloid consisting of two or more non-homogenous type of liquids wherein one of the liquid contains the dispersion of the different form of liquids.