Correct option is C
Eutectoid steel is defined as steel that contains approximately 0.8% carbon, which is the eutectoid composition in the iron-carbon phase diagram. At this composition, the steel consists entirely of pearlite, a microstructure that forms when the steel is cooled slowly from the austenite phase at the eutectoid temperature (727°C). Pearlite is a layered structure of alternating ferrite and cementite, giving eutectoid steel its distinct mechanical properties, such as a good balance between strength and ductility.