Everything else remaining the same, what would happen if polluters innovate and find cheaper ways to reduce their emissions, and at the same time government reduces the number of permits issued to the market. Question 16 options: The market price of permits will rise and total emissions will fall Both the market price of permits and total emissions will fall. Total emissions will fall, but the effect on the market price of permits cannot be determined with the information given. Total emissions will rise, but the effect on the market price of permits cannot be determined with the information given