Right option is (b) The voltage gain remains the same
Easiest explanation: The dependent current source has a variable resistance. If K doubles, the magnitude of current provided by the current source doubles, and thus, the total resistance connected to the source of M1 reduces by 2. By using the expression of voltage gain, \(\frac{-Rd}{(\frac{1}{gm} + Rs)}\), we find that a decrease in Rs leads to an increase in the voltage gain.