The United Kingdom plans to end the use of gas-powered and diesel-powered cars by the year 2040. At the same time, car manufacturers, such as General Motors and Nissan, are increasing the number of electric car models they produce. Based on this information, which of the following statements is/are correct?

i. If the supply of new electric cars is greater than the demand for new electric cars, then the price of electric cars will fall in the future.
ii. The demand for gasoline will fall in the future.
iii. The demand for electricity will rise in the future.
iv. The demand for diesel will rise in the future.

a. (i) and (ii)
b. only (i)
c. (ii) and (iv)
d. (i), (ii) and (iii)

i. If the supply of new electric cars is greater than the demand for new electric cars, then the price of electric cars will fall in the future.
ii. The demand for gasoline will fall in the future.
iii. The demand for electricity will rise in the future.

Explanation:

Currently electric cars are expensive because their supply is very limited, but if the supply increases, their price should fall.

Since less cars will consume gasoline and diesel, their demand should decrease in the future.

Since more cars will consumer electricity, its demand should increase in the future.