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Apple computers are a good example of this. Given the components they contain, they are definitely overpriced. That is to say, you could build your own computer with similar specifications for much cheaper than you can buy, say, a macbook pro. Yet despite the high price tags, consumers really enjoy their macs. Personally, I really enjoy mine. I feel that the computer runs smoothly and works well, so even though I may have overpaid for the product, I'm happy with it, so it feels worth it to me. In addition to this, there is a purely social aspect to Apple's marketing that makes it desirable to have a macbook. They have built their brand to represent good design, ease of use, and trustworthiness in their products. All of this also factors into customer satisfaction.
I should note that I'm a college student, not a teacher.
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