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?
- 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?"
- 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.
- 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. - 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.
- How to cite AI(new tab) with The American Psychological Association
- Scan how the AI's response is similar or different from your own response. Were you surprised by anything in the AI generated response?