I don't get, how option A corresponds to time point I. Electron transport/flow is independent of the phosphorylation, isn't it? Though it is not independent the other way round, i.e. the setting up of proton gradient requires the electron flow.
I think the matching should have been:
I-E, II-D, III-E.
A-no effect, as discussed above
C- no effect
D- inhibits Complex III, so O2 consumption will decrease
E- Substrate of Complex II, so O2 consumption will increase
According to the key, (d) is the correct option.