Which of the following is/are correct about Mahabharata?

Both Options, 1 and 2

The correct answer is Option 3 - Both options, 1 and 2

Option 1- It is a colossal epic running in its present form into over 100,000 verses.
Option 2- It was composed over a period of about 1,000 years

Mahabharata, a colossal epic running in its present form into over 100,000 verses with depictions of a wide range of social categories and situations. It was composed over a period of about 1,000 years (c. 500 BCE onwards), and some of the stories it contains may have been in circulation even earlier. The central story is about two sets of warring cousins. The text also contains sections laying down norms of behaviour for various social groups.