Why Does Rubisco Show Relatively Little Preference for CO₂ as a Substrate

Why does Rubisco show relatively little preference for CO₂ as a substrate over O₂?

A) Rubisco's active site can bind to CO₂ and O₂ equally well.
B) CO₂ and O₂ bind to RuBP which has roughly equal affinity for CO₂ and O₂.
C) Ancient atmospheric conditions had high amounts of O₂ which selected for Rubisco to bind to either molecule.
D) CO₂ and O₂ bind to a regulatory site on Rubisco instead of the active site.

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