Which of the following statements best describes the function of memory multiplexing?

Memory multiplexing is a technology that allows for efficient sharing and allocation of memory resources among multiple users or processes. The correct choice, which states that it improves efficiency in resource deployment, reflects the primary function of memory multiplexing. By utilizing techniques like time division or frequency division, memory multiplexing allows multiple tasks to share the same memory space without needing separate memory modules for each task. This reduces overhead and increases efficiency, as it enables better utilization of memory resources and can lead to cost savings.

The other choices do not accurately represent the concept of memory multiplexing. Eliminating the need for multiple servers pertains more to computing architecture design rather than memory resource management. Restricting memory access would suggest a limitation in performance or sharing capabilities, which goes against the purpose of multiplexing. Lastly, stating that memory multiplexing is only relevant in physical servers overlooks its applicability in virtualized environments, where memory sharing happens extensively. Memory multiplexing holds value across both physical and virtual servers, supporting efficient resource deployment regardless of the underlying infrastructure.