Step 1: Diffraction pattern analysis.
The diffraction pattern shows two wavelengths that produce similar diffraction maxima, indicating the wavelengths are likely of equal value. The ratio of their lengths is 1.0.
Step 2: Conclusion.
Thus, the correct answer is option (C).
Final Answer:
\[
\boxed{\text{(C) } \lambda_1 \text{ and } \lambda_2 \text{ are equal and their ratio is 1.0}}
\]