Final answer:
At equilibrium, the forward reaction rate is equal to the reverse reaction rate,(option 1) and both reactants and products have constant concentrations. Equilibrium is a dynamic state, not a cessation of reactions. The equilibrium constant reflects the ratio of product to reactant concentrations at this state.
Step-by-step explanation:
At the point of equilibrium, the forward reaction rate is equal to the reverse reaction rate. This means that even though there is no net change in the concentrations of reactants and products, both forward and reverse reactions are still occurring. A common misconception is that at equilibrium the reaction has stopped; however, equilibrium is a dynamic process with ongoing reactions where the concentrations of reactants and products remain constant but not necessarily equal. The equilibrium constant (Keq) for a reaction is the ratio of the concentrations of products to reactants at equilibrium, each raised to the power of their respective coefficients in the balanced equation, and does not necessarily equal one.