sabella and Madeline went to buy a new denim skirt. Madeline bought hers at JCrew and paid $69. Isabella bought a similar one at Target and paid $34.95. Madeline is convinced her skirt is better than Isabella’s because it is more expensive. Identify the psychological factor because of which Madeline buys a high-priced item.

The use of odd pricing which made her feel like she got more for her money

The use of prestige pricing which means the high price was used to signal high quality

The use of bundle pricing which stresses both value and convenience to Madeline and validates the high price of the shirt

The use of price elasticity which determines Madeline’s and Isabella’s price sensitivity

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