Which one of the following statements is correct?
(a) When K >> 1, the reverse reaction is favored and essentially goes to completion.
(b) When K << 1, the forward reaction is favored, and the reverse reaction does not proceed to a great extent.
(c) When K ≈ 1, neither the forward nor reverse reaction is strongly favored, and about the same amount of reactants and products exist at equilibrium.
(d) K >> 1 implies that the reaction is very fast at producing products.
(e) When K = 0, the reaction is in equilibrium.