Which of the Following Is True

Which of the following is true?

A) Hedging can always be done more easily by a company's shareholders than by the company itself
B) If all companies in an industry hedge, a company in the industry can sometimes reduce its risk by choosing not to hedge
C) If all companies in an industry do not hedge, a company in the industry can reduce its risk by hedging
D) If all companies in an industry do not hedge, a company is liable increase its risk by hedging