Answer :
Final answer:
Odd-even pricing is an example of a psychological pricing strategy where prices are set slightly lower than a whole number to create the perception of a significantly lower price.
Explanation:
An example of a psychological pricing strategy is odd-even pricing. This strategy involves setting prices slightly lower than a whole number, such as $9.99 instead of $10.00. The purpose of odd-even pricing is to create the perception that the price is significantly lower, even though the difference is minimal. By using odd prices, businesses aim to appeal to customers' psychological tendency to round down to the lower dollar amount.
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