Based on the premise "The square was once the scene of pageants, lively marketplaces, theater festivals, bullfights, religious processions, and even trials and executions during the Spanish Inquisition residents with access to any of the 400 balconies overlooking the square used to sell tickets for such events.", can we conclude the hypothesis "The pageants were restricted to only the most prestigious people." is true (see options)?

[I] yes;
[II] it is not possible to tell;
[III] no;
[II]