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 deals with prices and quantities

Describe new learning related to key concepts within the course.

• Review the rubric to make sure you understand the criteria for earning your grade.
• Read, watch, or review the resources on the Problem Overview(new tab) page as well as the following resources:

1. 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 deals 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:
   1. Webpage: Pricing in Different Markets(new tab)
2. It is recommended that you refer back to the Virtuous Business Model presented in the BADM-703 Virtuous Leadership and Global-Based Teams class:
   1. Article: Virtuous Leaders & Organizations(PDF document) (pages 56-60)
   2. White Paper: Making Business Virtuous (DeVoe School of Business White Paper)(PDF document)

• Write an initial response to the following key prompt: Briefly critique the economic decision-making process within the agricultural industry for alignment with the VBM.
• Post your initial response as a new thread in the Key Question discussion topic by Day 5.
• Read and respond to at least one of your classmate’s posts by the end of the workshop.

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