Which Example BEST Describes Tradable Emissions Permits

Which example BEST describes tradable emissions permits?

A) a tax system for internalizing emission costs to the market
B) a subsidy system for encouraging production of goods with positive externalities
C) a system of voluntary negotiations between polluters and damaged parties
D) a system of licenses that can be bought and sold and that enable the holder to pollute up to a specified amount during a given period

Correct Answer:

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