From the article 'What comes after London's congestion charge? By Feargus O'Sullivan January 26, 2022 (for Bloomberg)', Answer the followings;

1. From the case, identify and explain items that show demand and supply, pricing, and market failure (externalities, intervention in markets by authorities, etc.)

2. Using the knowledge on demand and supply, pricing, and market failure, critically review the information in the case to show your application of the knowledge to explain the main aspects of the case. Explain also how COVID-19 has affected demand and supply issues regarding the case.

3. From the case, explain why the London Congestion Charge instituted in 2003 may need replacing, and critically evaluate whether the proposal to introduce a city-wide charge pay-as-you-drive scheme may achieve the intended objective.