Suppose the Government Auctions Off Permits to Car and Truck

Suppose the government auctions off permits to car and truck owners,with each permit allowing the user to emit five tons of carbon dioxide each year from her or his vehicle.The total amount of carbon dioxide permitted is less than the amount currently emitted by vehicles.These permits could then be bought and sold on a market.Which of the following would occur?

A) Wealthy people would bear a larger burden under this system, relative to their incomes.
B) The total amount of fossil fuels burned in vehicles would actually increase.
C) People would pay less attention to their vehicle emissions than they do now because they could simply buy a permit and emit more.
D) People would tend to purchase cars that emitted less carbon dioxide.