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generis
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My answer is (A). It took me 56 seconds.

(B) The subject (An increase and a decrease) is plural, so "indicates" must be "indicate".

(C) Do we need to use present perfect tense? The text book explanation is that the present perfect tense refers to an action or state that either occurred at an indefinite time in the past or began in the past and continued to the present time. Here, "previously" suggests that the action ("speculate") occurred in the past and did not continue to the present time. So, I prefer (A) to (C).
Also, passive voice is not as strong as active voice

(D) Not a sentence because no main verb exists.

(E) (1) "previous" must be "preciously" in order to modify "speculate"
(2) Passive voice is not as strong as active voice. In particular, when "by" is used to introduce the actors who speculate, there is really no justification why an active voice should not be used.
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Indicate vs indicates
We have a plural subject because

An increase in the merchandise sales and a decrease in the number of unsold
So indicate is correct
In option c we have issue in meaning with have which is causing redundancy

Option A is correct


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An increase in the merchandise sales and a decrease in the number of unsold tickets indicate that the show may not be as unpopular as some critics previously speculated.


A) tickets indicate that the show may not be as unpopular as some critics previously speculated

B) tickets indicates that the show may not be as unpopular as some critics previously speculated

C) tickets indicate that the show may not be as unpopular as have been previously speculated by some critics

D) tickets, indicating about the show that it may not be so unpopular as previously speculated by some critics

E) tickets indicate the show may not be as unpopular as previous speculated to be by some critics

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An increase in the merchandise sales and a decrease in the number of unsold tickets indicate that the show may not be as unpopular as some critics previously speculated.


A) tickets indicate that the show may not be as unpopular as some critics previously speculated Correct

B) tickets indicates that the show may not be as unpopular as some critics previously speculated Incorrect

An increase......and a decrease....... - plural, so verb should be plural

C) tickets indicate that the show may not be as unpopular as have been previously speculated by some critics Incorrect

present perfect tense uses wrong

D) tickets, indicating about the show that it may not be so unpopular as previously speculated by some critics Incorrect

no IC in sentence

E) tickets indicate the show may not be as unpopular as previous speculated to be by some critics Incorrect

tat require after indicate, passive form avoidable
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generis

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An increase in the merchandise sales and a decrease in the number of unsold tickets indicate that the show may not be as unpopular as some critics previously speculated.


A) tickets indicate that the show may not be as unpopular as some critics previously speculated
The best option along with the usage of active voice our answer

B) tickets indicates that the show may not be as unpopular as some critics previously speculated
indicate is the right usage therefore out

C) tickets indicate that the show may not be as unpopular as have been previously speculated by some critics
as have been is not required therefore out

D) tickets, indicating about the show that it may not be so unpopular as previously speculated by some critics
These are dependent clauses there is no requirement of introducing a comma

E) tickets indicate the show may not be as unpopular as previous speculated to be by some critics
usage of by and the presence of passive voice is making it undesireable

Therefore IMO A
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IMO A

Reasoning:-

1. since the subject is plural- indicates is wrong. Eliminate B
2, We do not need "have been" here- action is in past. C eliminated
3. Sentence is framed awkwardly- indicating about the show that it may.... can simply be written as indicating that the show may.... D eliminated
Also- as popular as is better construction than so popular as
4. previous speculated is wrong. E eliminated

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An increase in the merchandise sales and a decrease in the number of unsold tickets indicate that the show may not be as unpopular as some critics previously speculated.


A) tickets indicate that the show may not be as unpopular as some critics previously speculated

B) tickets indicates that the show may not be as unpopular as some critics previously speculated

C) tickets indicate that the show may not be as unpopular as have been previously speculated by some critics

D) tickets, indicating about the show that it may not be so unpopular as previously speculated by some critics

E) tickets indicate the show may not be as unpopular as previous speculated to be by some critics
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(A) is correct IMO

A) Correct

B) tickets indicates that the show may not be as unpopular as some critics previously speculated
Subject verb disagreement

C) Present perfect tense is not correct to use as critics speculated at some point in time in the past and it is over. Neither they are speculating currently nor there is evidence that speculation has still some effects

Passive voice is not preferred over active. A is better

D) No main verb

E) Meaning changed; Sentence is structures in such a way that it appears that show is being indicated - Nonsensical meaning wise
"Previous" is adjective it wrongly modifies verb "speculated"
to be by some critics is a wrong and wordy construction
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Slash and burn the sentence,

An increase in the merchandise sales and a decrease in the number of unsold tickets indicate that
    the show may not be as unpopular
    as some critics previously speculated.


A) tickets indicate that the show may not be as unpopular as some critics previously speculated
Correct usage of idioms and subject verb agreement. Answer choice is A.

B) tickets indicates that the show may not be as unpopular as some critics previously speculated
Subject is plural and verb usage is singular.


C) tickets indicate that the show may not be as unpopular as have been previously speculated by some critics
Have been(present perfect continuous tense) contradicts with 'previously'. Changes the sentence to passive voice from active voice.

D) tickets, indicating about the show that it may not be so unpopular as previously speculated by some critics
Fragment sentence problem and also the idiom usage should be of the form "as...as". Eliminate

E) tickets indicate the show may not be as unpopular as previous speculated to be by some critics
Changes the sentence to passive voice from active voice. Here, unnecessary auxiliary verb 'to be' is used to indicate the progressive action( past participle) for the passive voice. Eliminate
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An increase in the merchandise sales and a decrease in the number of unsold tickets indicate that the show may not be as unpopular as some critics previously speculated.

A) tickets indicate that the show may not be as unpopular as some critics previously speculated -> There is no error> let's keep it.

B) tickets indicates that the show may not be as unpopular as some critics previously speculated -> X and Y require plural verb. Incorrect.

C) tickets indicate that the show may not be as unpopular as have been previously speculated by some critics -> have been means something in past to till now. But it is not the intended meaning. Incorrect.

D) tickets, indicating about the show that it may not be so unpopular as previously speculated by some critics -> We don't have a main verb. Incorrect.

E) tickets indicate the show may not be as unpopular as previous speculated to be by some critics -> later part is passive, still option A is better. Incorrect.

So, I think A. :)
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POE:
A: Correct

B: Subject Verb agreement error: Singular verb HAS for Plural subject “An increase in the merchandise sales and a decrease in the number of unsold tickets”

C: Subject Verb agreement error: Plural verb HAVE for singular subject THE SHOW

D: Fragment: No working verb for the subject “An increase in the merchandise sales and a decrease in the number of unsold tickets”

E:
1) Adverb PREVIOUSLY should have been used in a correct construction
2) Presence of THAT in option-A makes it more clear, no need to imply
3) Unnecessary TO BE
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Correct option A

An increase in the merchandise sales and
a decrease in the number of unsold tickets

indicate
that the show may not be
as unpopular as some critics previously speculated.
- SVA (indicate) correct
- as X as Y - correct idiom.
- correct "Indicate that"

Reason for other option Wrong, words are cut as they refer to wrong phrase, structure or meaning

B) tickets indicates that the show may not be as unpopular as some critics previously speculated
C) tickets indicate that the show may not be as unpopular as have been previously speculated by some critics
D) tickets, indicating about the show that it may not be so unpopular as previously speculated by some critics
E) tickets indicate the show may not be as unpopular as previous speculated to be by some critics

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