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Please provide explanation why A is correct and E is incorrect
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The answer is A.

This sentence tests the ability of students to use past perfect tense. This is extremely common on the GMAT.

Whenever there are 2 events and they should be arranged chronologically, the one that logically occurs first should have the word “had” to indicate that it occurred before the other event.

In this case, the investors had hoped is correct because it was only after that they pushed the prices.

And with since, one must use simple past tense. It is a simple rule.

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Hi EducationAisle and egmat: I always get confused with the use of None of .... with regards to S-V agreement.

Apart from the correctness of this sentence (I understand why A is correct), will it be have after: None of the major airlines companies (have/has)?

Please advise. My understanding is that if "None" is present then S-V agreement depends on the noun in the "of phrase"?
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IN2MBB2PE
I always get confused with the use of None of .... with regards to S-V agreement.

Apart from the correctness of this sentence (I understand why A is correct), will it be have after: None of the major airlines companies (have/has)?

Please advise. My understanding is that if "None" is present then S-V agreement depends on the noun in the "of phrase"?
I don't believe that this has every been tested on GMAT (and perhaps never will be), but we do get a clue in one official sentence that uses none as a singular subject.
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Isnt it a rule that we have to use present perfect with since?

If so then why is C incorrect?
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pratyush3284
Isnt it a rule that we have to use present perfect with since?
That's generally true Pratyush, when since is used as a time indicator.

Here, since is used as because.
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