Correct answer is (c) Effect of the ratio of the partition coefficients
Explanation: The graph represents the effect of the ratio of the partition coefficients (PB/PA). The curves are generated by using the equation \(K_{biphasic} = K_w (\frac{1+αP_B}{1+αP_A})\). In the plot, the variation in the apparent equilibrium constants of a one-substrate one-product reaction with the relative component composition of a biphasic aqueous-organic system is shown.