Why does an enzyme reaction reach a maximum rate at high substrate concentrations?

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An enzyme reaction reaches a maximum rate at high substrate concentrations because the enzyme becomes saturated.1

According to the Michaelis-Menten hypothesis, enzymes catalyze reactions by forming an intermediate complex with the substrate at a specific region called the active site. As the concentration of the substrate increases, the reaction velocity rises because more active sites are occupied.123

The reaction reaches its maximum velocity (VM) when all available active sites on the enzyme molecules are engaged with substrate. At this point, the rate of the reaction is no longer limited by the availability of the substrate, but rather by the speed at which the active sites can convert the bound substrate into product.312