Depending on your audio card or interface, you have to redirect the microphone to the output (monitor) mix. Double clic on the speaker (bottom right of the screen) or go in the audio interface menu of your audio card and check if available.
At MMM level, in the recording menu, you can enable an option in order to monitor (reading after recording) the sound. But you need a very low latency audio card to avoid a gap between playing and listening.