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Reflective essay: Liu Wei Shien Before doing this report, it is harder to relate the concepts of economics to real life. After completing and doing this report, I realize that economic theories and the decision of firms in reality are connected. Besides, I learnt the importance of teamwork. It also deepen my knowledge of Mobile Network Operators in Malaysia and the oligopolistic market.
Firstly, I am very grateful to my team members who cooperate and work together with me to complete this report. Now, we bonded more closely and learn about the market together. In my opinion, I am very lucky to have them working together with me. They are very hardworking and knowledgeable.
Secondly, by doing this report, I know more on what market structure is and difference in efficiency between perfectly competitive market and oligopoly market. Other than that, it also help me understand about the degree of competition and market power in this industry. It made me realize that we need to analyze and predict the reactions of consumer and competitors if we were to sell our products successfully. I also realize that things are not always what they seem. In an oligopolistic market, they look like they are competing against each other. However, they also often cooperate and work together to increase profit. I also learn to edit and connect works of different group members together.
In conclusion, after doing this report I learnt many things. I am grateful to Ms. Pratiba for giving me this opportunity to do this…...

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