What type of control pins are needed in a microprocessor to regulate traffic on the bus, in order to prevent two devices from trying to use it at the same time?

Answer: Option C

Bus arbitration : Bus arbitration is the process by which the next device to become the bus master is selected and bus mastership is transferred to it. The selection of bus master is usually done on the priority basis. There are two approaches to bus arbitration: Centralized and distributed.