QUESTION 10 Currently the Australian Government is aiming to reduce Australia's carbon emissions to 5% below 2000 emissions levels by 2020. Emissions change [compared to 2000 10% increase No change 5% 10% redudion levels} by 2020. reduction Total cost for industries to introduce 0 0.3 1.2 1.5 reform measures {billions of dollars} a. If the Government introduced a pelmit system, resulting in total industry costs being only $100 million, what would be the expected 2020 pollutions levels compared to 2000 levels? . Type LT for Less Than, E for Equal to or GT for Greater Than. b. Consider the agricultural sector is responsible for 16% of Australia's carbon emissions. The Goyemment decides to introduce the reform option C. How much would it cost the agricultural sector as a result ofintroducing this reform? Assume the cost is directly proportionally to all industlies within the Australian economy. Answer to two decimal places in billions of dollars. $ billion. c. Consider a biscuit company decides to contribute toward the reduction in carbon emissions. It does so by purchasing $10 million worth of permits issued by the government. The company then spends another $8 million on upgrading its manufacturing processes. What is the net cost to society resulting from these decisions? Answer to the nearest whole number in millions of dollars (with no decimal places]. $ million