Studies Have Shown That Investment Opportunities in Many Industries Are

Studies have shown that investment opportunities in many industries are negatively correlated with industry cash flow.This means that:

A) firms that can maintain their cash flow when other firms in the industry are experiencing declining cash flow can take advantage of opportunities that other firms cannot pursue.
B) firms within a particular industry are destined to experience the same cash flow declines and increases as other firms in their industry experience.
C) investment opportunities within an industry increase when cash flow within the industry increases.
D) hedging is not a benefit to a firm if the general trend of cash flow within that industry is declining.