The infant industry argument is criticized because it relies on an assumption that:
A. new manufacturing industries in developing nations can initially compete with established industries in developed countries.
B. selling goods in a foreign market at below their "fair" market value is legally and ethically justified.
C. the domestic industry in a developing nation lacks the capacity to meet demand.
D. firms are unable to make efficient long-term investments by borrowing money from the domestic or international capital market.
Answer: D