The theory of the firm provides insights into price and quantity determination. What implications does the VBM have? The main economic decisions a ma

 The theory of the firm provides insights into price and quantity determination. What implications does the VBM have? The main economic decisions a manager makes deal with prices and quantities. You may want to review how decisions are made in the different market structures. Here is a refresher on prices and output decision-making in the various market structures:

Webpage: Pricing in Different Markets(new tab)It is recommended that you refer back to the  Virtuous Leadership and Global-Based Teams class:

 Choose a specific agricultural market. If you were a manager in this market, what are three ways you might apply VBM in your decision-making? How might these three ways apply to the industry where you are now employed or an industry you are familiar with?

1. After you answer the questions on your own, find a generative artificial intelligence program online and input this query, “If you were a manager in the [insert your market]z, what are three ways you might apply the virtues in your decision-making?”
2. Some of the better known AI platforms are Viso Suite, ChatGPT, Jupyter Notebooks, and Google Cloud AI. Or you could submit your own Google search for an alternative AI platform.
   1. How to cite AI(new tab) with The American Psychological Association
      McAdoo, T. (2024, February 23). How to cite ChatGPT. APA Style Blog. https://apastyle.apa.org/blog/how-to-cite-chatgpt.
   2. How to cite AI(new tab) with Purdue University
      Purdue University Libraries and School of Information Studies. (nd). How to Cite AI-Generated Content. LibGuide. https://guides.lib.purdue.edu/c.php?g=1371380&p=10135074.
3. Scan how the AI’s response is similar or different from your own response. Were you surprised by anything in the AI generated response?