The correct answer is B) The closed-loop control system should minimize the settling time and minimize the residual error. In a closed-loop control system, the two main objectives in addition to minimizing the maximum value of the error are to minimize the settling time and minimize the residual error. Minimizing the settling time ensures that the system reaches the desired set point as quickly as possible, while minimizing the residual error ensures that the system accurately maintains the desired set point with minimal deviation. This is the optimal behavior for a well-designed closed-loop control system. The other options are incorrect because maximizing the settling time or the residual error would not be desirable objectives for a closed-loop control system, as they would result in a slower and less accurate response.