A hamburger stand near the local mall sells hamburgers for $3.99,drinks for $1.99,and fries for $1.49,while a gourmet restaurant nearby sells entrees for $20,$30,and $45.Both of these restaurants are using .

Question

Quizplus · Accepted Answer

Psychological pricing is used by the hamburger stand with prices ending in .99 to make them seem cheaper, while the gourmet restaurant uses prestige pricing with higher price points to convey quality and exclusivity.

A Hamburger Stand near the Local Mall Sells Hamburgers for $3.99,drinks