Final answer:
The name of the counter variable, also known as the loop control variable, in an algorithm that includes 'set max value' is likely 'Max'.
Step-by-step explanation:
The correct answer to the question is b) Max. The name of the counter variable, also known as the loop control variable, in the given algorithm scenario which mentions 'set max value' is likely 'Max'. In programming, a counter variable or loop control variable is used to control the number of times a loop executes.
It is initialized before the loop starts, and typically incremented or decremented with each iteration of the loop. In some algorithms, the loop control variable is given a meaningful name that reflects its purpose, such as 'Max' in the case where it might represent the maximum value to be counted to.