From the 16th to the 19th century, Europeans:

A. Retreated from political dominance of the world

B. Exerted political dominance over much of the world

C. Possessed an innate cultural superiority that aided their conquest of territories

D. Both B and C

I am feeling D. as a possible answer to this question. Am I correct?

Yes - absolutely

C. is not a correct answer. Europeans were not innately or culturally superior. B is the only possible answer.