$\underline{\textbf{Answer:}\Rightarrow}\;\mathbf{b.}$
$\underline{\textbf{Explanation:}\Rightarrow}$
$\mathrm{M_{1_{w\times x}} M_{2_{x\times y}} M_{3_{y\times z}}}$
$\text{Cost of } \;\mathrm{(M_1M_2)M_3\; = wxy+ wyz}$
while $\text{Cost of } \; \mathrm{M_1(M_2M_3)\; = xyz + wxz}$
Now, The time taken by $(M_1M_2)M_3$ will be less than $\mathrm{M_1(M_2M_3)}$, when
$\mathrm{wxy + wyz < xyz + wxz}$
Divide both sides with $\mathbf{wxyz}$, we will get:
$\mathrm{\dfrac{1}{z}+ \dfrac{1}{x} < \dfrac{1}{w}+ \dfrac{1}{y} }$