Question: answer 4. (5 points) Fill in the blanks from this key passage of Libecap's (2011) book chapter: Under (i) , there is a critical interdependence

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answer 4. (5 points) Fill in the blanks from this
4. (5 points) Fill in the blanks from this key passage of Libecap's (2011) book chapter: Under (i) , there is a critical interdependence among diverters from the same water source with different priority rights. Because as much as 50 percent of the original diversion may flow back to the stream or percolate down to the aquifer, it is available for subsequent users [...]. During times of drought, when only (ii) appropriators may have their allotments fulfilled, junior appropriators are especially dependent on these return flows. They bear most of the (iii) risk of drought. Actions by senior rights holders that affect water consumption can influence the amount of water released downstream. Accordingly, water trading from agriculture to urban uses that involves export out of the basin can impair third parties and is subject to state regulation to ensure that no harm is inflicted on junior diverters [...]. (circle one answermeaning one of the rows below-only ) A. (i): drought conditions (ii): senior (iii): downside B. (i): water trading (ii): master (iii): financial C. (i): prior appropriation (ii): government (iii): upside D. (i): drought conditions (ii): master (iii) : financial E. (i): prior appropriation (ii): senior (iii): downside F. (i): water trading (ii): government (iii): upside G. None of the above

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