Which of the following statements correctly describes a system at dynamic equilibrium?
The forward and backward reactions have stopped, and the concentrations of reactants and products are equal.
The reaction occurs in an open system, and the concentrations of reactants and products remain constant.
The rate of the forward reaction is equal to the rate of the backward reaction, and the reaction occurs in a closed system.
The concentration of products is always greater than the concentration of reactants, and the reaction occurs only in the forward direction.