In the year 2000, olive oils made up just 40% of the liquid oils

Question

In the year 2000, olive oils made up just 40% of the liquid oils market, with standard oils taking 52% and speciality oils accounting for the remainder. But now, fuelled by health concerns and a general move towards premium products, the tables have turned. Today, the olive oil sector is worth some $104 million and alone accounts for an estimated 51% of the total market.

Which of the following conclusions can most properly be drawn from the information above?

(A) In 2000, the total worth of the olive oil sector was less than $104 million.

(B) The total sales of the standard oils at present time are lower than their sales in 2000.

(C) Olive oil is healthier than all other liquid oils available in the market.

(D) The market share of the standard oils category today must have declined from what it was in 2000.

(E) The total worth of the specialty oil category today is higher than what it was in 2000.

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Akkiiii · Answer

i was confused btw A & D. Chose D since 
Earlier the market share of Standard oils was 52% and now Olive oil is alone 51% so the market share of Standard oils can at max be 49%

Abdelaali91 · Answer

(A) In 2000, the total worth of the olive oil sector was less than $104 million. 
 Not necessarily, the fact that olive oil's market share increased does not imply an increase in total worth of the sector. 
 
 (B) The total sales of the standard oils at present time are lower than their sales in 2000. 
 Less market share not fewer sales.
 
 (C) Olive oil is healthier than all other liquid oils available in the market. 
 This anwser choice maybe an inference based on a premise in the argument. Although it's not directly supported, because we have no information on the specialty oils' new market shares.
 
 (D) The market share of the standard oils category today must have declined from what it was in 2000. 
 Best choice that is supported by the argument. 51% market share for the olive oils means there only 49% left. Initial 52% must have decreased.
 
 (E) The total worth of the specialty oil category today is higher than what it was in 2000. 
Not nessarily as in A.

Bunuel · Answer

Official Explanation

Since this is an Inference question, let’s look at each option and eliminate.

(A) This does not necessarily have to be the case. What if the total market for liquid oils has shrunk? Then, even though olive oil could have a larger share of this market, in absolute terms, its total worth may have gone down.

(B) Again this may not be the case if the total market for liquid oils has expanded significantly.

(C) Extreme option. There could be healthier oils than olive oil available in the market.

(D) The correct answer.  In 2000, the market share of the standard oils category was 52% and currently, the market share of olive oils is 51%. So, then the market share of standard oils category currently cannot be more than 49%, which is lower than 52%.

(E) This may not be the case if the overall market for liquid oils has shrunk.

In the year 2000, olive oils made up just 40% of the liquid oils

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In the year 2000, olive oils made up just 40% of the liquid oils

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615 to 715 in 15 Days (Ria's Strategies)

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