Which of the Following Is NOT a Reason Why Private

Which of the following is NOT a reason why private bargaining can fail to achieve the socially optimal level of emissions?

A) The resource is an open-access good making it difficult to assign property rights.
B) Net social gains depend on the initial assignment of property rights.
C) Restrictions on use prevent property owners from capturing social values.
D) Transaction costs are too high due to the necessity to include many parties in the negotiations.