Which of the Following Factors Account for the Inefficiency of the Rate

Which of the following factors account for the inefficiency of the rate of photosynthesis?
I. Even when conditions are ideal, the pigments that drive photosynthesis can absorb only a fraction of the light wavelengths available and thus a fraction of the total energy received.
II. Plants in equatorial biomes have drastically reduced photosynthetic rates in winter.
III. If conditions get dry, stomata close to conserve water.
IV. The efficiency of enzymes is not temperature dependent.

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