Which of the Following Statements Is TRUE? I

Multiple Choice

Which of the following statements is TRUE? I. The EPA's tradeable allowances program for sulfur dioxide establishes property rights to pollute and helps reduce transaction costs by distributing allowances, maintaining databases, and monitoring emissions. II. One criticism of tradeable allowances is that they prohibit non-businesses and environmental groups from purchasing the allowances. III. The tradeable allowances for sulfur dioxide have performed poorly because electricity output has increased, causing a rise in sulfur dioxide levels.

A) I only
B) II and III only
C) I, II, and III
D) III only