Which of the following statements best describes Weitzman’s dismal theorem?

Weitzman’s Dismal Theorem (Option C) argues that:

Extreme climate risks cannot be properly captured by traditional cost-benefit analysis.

High-impact, low-probability climate events (e.g., runaway warming, tipping points) mean economic models underestimate catastrophic risks.

Option A (Low discount rate for moral reasons) is incorrect because Weitzman focused on uncertainty, not ethics.

Option B (Economic value for biodiversity) is relevant but not the core of the dismal theorem.