Answer :
Let's go through the code step by step to see what it does and what it will output.
1. The `f` function is defined with two parameters: `value` and `values`. The `value` parameter is not used in the function. Inside `f`, a variable `V` (note: different from `v`, it is uppercase) is assigned the value 1. This assignment of `V` has no effect on the function because `V` is not used. Then `values[0]` is set to 44, which will modify the first element of the list passed to the function.
2. A variable `t` is set to 3.
3. A list `v` is created with the elements [1, 2, 3].
4. The `f` function is then called with `t` and `v` as arguments. This means that within `f`, `value` is effectively `t`, and `values` is `v`.
5. When `f(t, v)` is called, the first element at index 0 in `values` (which is the same as list `v` outside the function) is set to 44. Therefore `v` is now [44, 2, 3].
The variable `t` is passed by value, meaning the function `f` receives a copy of `t` and any changes to `value` inside the function wouldn't affect `t`. But there were no changes made to `value` inside the function, so `t` remains unchanged.
The list `v` is passed by reference (actually, everything in Python is passed by reference, but since lists are mutable, modifications within the function reflect outside as well), meaning that changes to `values` inside `f` will affect the original list `v`.
6. Finally, `print(t, v[0])` is called. This will print the value of `t` (which is still 3 since it wasn't modified within the function) and the first element of list `v` (which is now 44 due to the modification in `f`).
Thus, the code will display:
```
3 44
```
So the correct option is c. 3 44.