Statement I: People Who Bought Bottled Water for $5 During

Multiple Choice

Statement I: People who bought bottled water for $5 during the Great Blackout of 2003 were ripped off.
Statement II: According to utility theory,no buyer was ever ripped off.

A) Statement I is true and statement II is false.
B) Statement II is true and statement I is false.
C) Both statements are true.
D) Both statements are false.