Consider the following statements regarding the Michaelis-Menten's constant $\left(\mathrm{K}_{\mathrm{m}}\right)$.
I : $\mathrm{K}_{\mathrm{m}}$ is indicative of the affinity of an enzyme for its substrate.
II : A high $\mathrm{K}_{\mathrm{m}}$ indicates high affinity for substrate binding.
III : $\mathrm{K}_{\mathrm{m}}$ is a measure of the substrate concentration required for effective catalysis to occur.

The correct statements are:

• A

  only I and II
• B

  only II and III
• Correct answer
  C

  only I and III
• D

  I, II and III

Hence, the correct answer is option: 'C'.