Discussion

Explanation:

Option 1 is incorrect because volatile and non-volatile memories refer to electronic and magnetic storage technologies respectively.
Option 3 is irrelevant and does not answer the question stem about the two alternative research paths being pursued.
Option 4 mentions the process of magneto-resistance and the functioning of a magnetic microprocessor, but it too does not answer the question stem.
The third paragraph mentions magneto-resistance while the fifth paragraph mentions the approach based on magnetic tunnel-junctions; two alternative research paths in developing magnetic memory chips. This resonates with option 2.
Hence, the correct answer is option 2.

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