The correct option is C Both the forward and reverse reactions continue to occur, but at the same speed.
Dynamic equilibrium only occurs in reversible reactions, and it's when the rate of the forward reaction is equal to the rate of the reverse reaction. These equations are dynamic because the forward and reverse reactions are still occurring, but the two rates are equal and unchanging, so they're also at equilibrium. Reactants and products are formed at such a rate that the concentration of neither changes.
Hence, option c is correct.