altho its a long ago video, bt i would like to clarify that i feel that this is a monopolistic economy. Oligopolies have a certain amount of mkt power, hence, is able to fix price to a certain extend. Thus, economic profits would rarely hit 0 as with the case of price = cost price due to price war.
So how do firms facing Prisoner's Dilemma overcome this problem?
If all firms are involved in a price war, reducing the price of their products/services to cost price would render their business unprofitable.
For example, in Malaysia, before Green Packet Berhad introduced their wireless broadband services(P1 Wimax), TM Net was the monopoly and users only have the choice of subscribing to Streamyx. With the introduction of P1 Wimax, Will they face the dilemma? If so, how will they overcome it?
@fishbonezken Great question, one of the ways to overcome prisoner's dilemma is through product differentiation. Relating to your example, although both firms are providers of broadband services, that's where their similarities end. Streamyx uses a fix copper line that is shared by many home users, bandwidth gets more limited as more users use the line. Wimax uses wireless transmission technology, hence an increase of users in the same geographical area will not create a bandwidth bottleneck.
I'de tap it
3vinmac 2 days ago
lol who says all asians are smart
TheArfdog 1 month ago
I want to have after-class with you!
FFMSmit 1 month ago
altho its a long ago video, bt i would like to clarify that i feel that this is a monopolistic economy. Oligopolies have a certain amount of mkt power, hence, is able to fix price to a certain extend. Thus, economic profits would rarely hit 0 as with the case of price = cost price due to price war.
xlade 1 year ago
this is so stupid and gay! suck it nerds!
rhinocarlos 1 year ago
this is so stupid and gay!
rhinocarlos 1 year ago
isnt this lame??? =.=
nat777 1 year ago
adpecon - ms phua?
regarding the video,
one word.
awesome.
:D
jimmylimwaikit 2 years ago
So how do firms facing Prisoner's Dilemma overcome this problem?
If all firms are involved in a price war, reducing the price of their products/services to cost price would render their business unprofitable.
For example, in Malaysia, before Green Packet Berhad introduced their wireless broadband services(P1 Wimax), TM Net was the monopoly and users only have the choice of subscribing to Streamyx. With the introduction of P1 Wimax, Will they face the dilemma? If so, how will they overcome it?
fishbonezken 2 years ago
@fishbonezken Great question, one of the ways to overcome prisoner's dilemma is through product differentiation. Relating to your example, although both firms are providers of broadband services, that's where their similarities end. Streamyx uses a fix copper line that is shared by many home users, bandwidth gets more limited as more users use the line. Wimax uses wireless transmission technology, hence an increase of users in the same geographical area will not create a bandwidth bottleneck.
ADPECON202 2 years ago
Nice..Got a clear view of what oligopoly is.. :D
weiquanhow 2 years ago
nice and interesting piece of work..good job!~=)
wanmin91 2 years ago
good acting on horny face .. sexy girl attract attention to learn .. good job .. haha
chinlian12 2 years ago
the red shirt girl is sexy pretty HOT !!!
hahaha ....
Wednes 2 years ago
lol... yummy... .Adrian
susutako 2 years ago
OMG I finally know what's oligopoly !!!!!
hahaha.. nice one :D
awesomestdaphne 2 years ago
@awesomestdaphne
GAY
rhinocarlos 1 year ago
Comment removed
awesomestdaphne 2 years ago
rofl i find really funny hahha.. and voni tang teaching hahaha
sevn7 2 years ago
Awesome explanation! People without economic background would understand it too! Good job!
daryltjl 2 years ago
nice piece of work!!!!! GJ
watboy0301 2 years ago
lol.. this is cool.. maybe u all can put on the subtitle... its a little blur..
tigerbear91 2 years ago
nice and interesting!! :DDD
A principle that can never be forgotten after this assignment.
austomp 2 years ago
kool i actually understand this man.. it makes loads of sense u guys are awesome! =D
krazykokonuttklown 2 years ago