The correct answer is C. VMM.
A hypervisor, also known as a virtual machine monitor (VMM), is a software that creates and runs virtual machines (VMs). A VM is a software implementation of a computer that executes programs like a physical machine. Hypervisors are used to run multiple operating systems on a single physical machine, to consolidate workloads, and to improve resource utilization.
VGM stands for Virtual Guest Manager. It is a component of the hypervisor that manages the guest operating systems. VMc stands for Virtual Machine Client. It is a component of the hypervisor that provides a user interface for managing the VMs.
All of the mentioned are components of the hypervisor.