The correct choice is (a) Lenz’s law is a consequence of the law of conservation of energy
To elaborate: Whether a magnet is moved towards or away from a closed coil, the induced current always opposes the motion of the magnet, as predicted by Lenz’s law. Work has to be done in moving the magnet closer to the coil against this force of repulsion. Thus Lenz’s law is valid and is a consequence of the law of conservation of energy.