If Emissions Permits Are Traded Freely Between Profit-Maximizing Firms in the Private

If emissions permits are traded freely between profit-maximizing firms in the private market,

A) there will be more than the optimal amount of pollution.
B) the amount of pollution abatement will be identical to that which the firms would have willingly undertaken on their own.
C) each firm will face identical costs of pollution abatement.
D) all firms will use identical pollution abatement technologies.
E) marginal abatement costs will be equalized across firms.