NANYANG TECHNOLOGICAL UNIVERSTY
HE2001 Intermediate Microeconomics
Problem Set 1 (Week 3)
1. If a consumer is always indifferent between three units of x and four units of y, no matter how
much x or y she consumes, then which of the following utility func

We say x + (1
) y for any
combination of x and y .
2 [0; 1] is a convex
Geometrically, if x, y 2 Rn, then fz 2 Rn :
z = x + (1
) yg for
2 [0; 1]g constitutes
the straight line connecting x and y .
A set X
x + (1
Rn is convex if, any x, y 2 X implies
) y 2

HE2001 Intermediate Microeconomics
Course Description
The main aim of this course is to provide a further understanding of microeconomics. The
course will cover the theory of consumer choice, the theory of the firm, decision under
risk and uncertainty, co

NANYANG TECHNOLOGICAL UNIVERSTY
HE201/2001 Intermediate Microeconomics
Problem Set 1 (Week 3)
1. If a consumer is always indifferent between three units of x and four units of y, no matter how
much x or y she consumes, then which of the following utility

Problem Set 3
HE 2001 Intermediate Microeconomics
2015
2. Consider the same setting as in question 1, except that the proportion of high-, medium, and low-quality cars are H , M , and L respectively (clearly, all of sare between
zero and one, and they add

NANYANG TECHNOLOGICAL UNIVERSTY
HE2001 Intermediate Microeconomics
Problem Set 2 (Week 4)
1. A consumers utility function is U=4q10.5+q2. His budget for these goods is Y=10.
Originally, the prices are p1=p2=1. However, the price of the first good increase

Topic 3 Discussant
Group 8
Lim Man Yi Amanda
Soh Sin Yee
Wendy Yap Wei Ling
Jessie Low
Yvonne Wong
General Comments
Informative with figures and diagrams provided
Identified major industries/sectors worth discussing
Lack of linkages throughout the paper w