Consider the relations between the individual elements of this argument: Which statements in this argument support other statements, and which ones do not? If a given statement is supported by the other elements of the argument without also itself supporting other such elements, then that statement is this argument's conclusion. If a given statement supports the other elements of the argument without also itself being supported, then it is a premise. In the argument you are referencing, "A university should not be entitled to patent the inventions of its faculty members" is the only element of this argument that is supported by the other argumentative elements without also supporting anything else. This statement therefore is this argument's conclusion, as (A) maintains.
Comments
Consider the relations between the individual elements of this argument: Which statements in this argument support other statements, and which ones do not? If a given statement is supported by the other elements of the argument without also itself supporting other such elements, then that statement is this argument's conclusion. If a given statement supports the other elements of the argument without also itself being supported, then it is a premise. In the argument you are referencing, "A university should not be entitled to patent the inventions of its faculty members" is the only element of this argument that is supported by the other argumentative elements without also supporting anything else. This statement therefore is this argument's conclusion, as (A) maintains.