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Quality, Price, and Value

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Quality and price equals value. When purchasing a car, does a BMW 500 series that costs $42,000 have more value than a Ford Taurus that cost $25,000? Or, in the mind of the consumer, could they have equal value?

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This solution discusses the concept that quality and price equal value. We discuss if a BMW and a Ford have equal value to their respective owners.

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In the mind of the consumer, both vehicles could definitely have the same value, or the Ford could have greater value to the owner than the BMW ...

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