Which of the Following Statements Is True

Which of the following statements is true?

A) The reduced demand for permits would increase their price.
B) The reduced demand for permits would shift the industry supply curve for carbon intensive output to the left.
C) The increased demand for permits would increase firms' costs and shift the supply curve for carbon intensive outputs to the left.
D) The reduced demand for permits would lower their price, lower firms' costs, and shift the industry supply curve for carbon intensive outputs to the right.