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Why some high prices are accepted and others aren't | The psychology of price.
You'll happily pay £95 for afternoon tea at The Ritz, which is sandwiches, scones and a bit of cake. You would not pay £95 for the same sandwiches, scones and cake on the counter in Pret. You'd think somebody had lost their mind. The food isn't the difference. What's changed is what you're comparing it to. Before anybody looks at your price ...
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