When a TV company chooses a pay-per-view scheme to pay for programming, which of the following statements is true? Explain.
a. The outcome is socially efficient.
b. The programs selected will maximize advertising revenue.
c. The marginal cost to an additional viewer of watching the programs is lower than when advertising is used to finance programming.
d. The outcome is always more socially efficient than when advertising is used to finance programming.
e. The variety of programs provided is likely to rise.