KarishmaB Is my analysis correct?
Sentence 1: The interplay between what a given item is worth and its price is hardly based on logic:
This is true in most cases: Eg price and worth of most high end brands seems hardly logical
Sentence 2: This is especially true of fashion, luxury, or other nonessential items.
Sentence 3: Designer clothing, for example, becomes worth what is priced, as opposed to being priced what it is worth.
Seeing the price we assign the worth rather than doing the opposite (which should be the case)
Sentence 4: When that price is set high, the product's value is perceived accordingly, even when its quality is no higher than that of less expensive rivals.
The sentence is in continuation of the previous sentence. Eg: When we see a product X of brand A priced high, we attach the value/worth of that product as to be high event though its quality is the same or even less than that of its rivals
A) People consistently make logical choices when shopping for essential items.
OOS: We have not been given any information about people???s choices buying essential items
B) Designer Clothing is not an indispensable item.
Correct: The fact w.r.t designer clothing in the passage is given as an example of fashion, luxury, or other nonessential items. ???indispensable??? means necessity
C) The higher a product's price, the more that product is worth.
This is incorrect in many fronts. Firstly what type of products? We have no info about necessities. Secondly w.r.t luxury items a generic trend that is seen is mentioned. Moreover the passage says that for fashion, luxury, or other nonessential items the more a product is worth, the more it is DEEMED to be worth (does not mean that it is actually worth)
D) Low-priced items are usually of the same quality as high priced items.
OOS: Wide scope (the above op) Vs Narrow scope (passage)
E) People are not logical when they shop for clothing.
OOS: Wide scope (the above op) Vs Narrow scope (passage)